The Philippine information technology-business process outsourcing (IT-BPO) sector is now back on pre-pandemic levels with increased employment in the sector as a result of the Marcos administration’s recovery initiative, a socioeconomic planning official said.
National Economic and Development Authority (NEDA) Undersecretary Rosemarie Edillon said in a news forum in Quezon City on Saturday that recent employment data shows that the IT-BPO has already recovered from the pandemic along with the tourism sector.
Citing Philippine Statistics Authority (PSA) employment data released last Thursday, she said that the October round showed a dip in unemployment rate to 4.2 percent.
“And what we saw as well is that many of the jobs generated were in the tourism-related sector – so iyong mga accommodation, mga restaurants and some transport as well at saka iyong sa IT-BPO rin po,” Edillon told the forum.
“So iyon ‘yung mga… actually ito rin talaga iyong mga sectors na binabantayan natin kasi hindi pa sila nakaka-recover to their 2019 levels. So, it’s good to know that they are, you know, they’re really getting back on track.”
Delving further on the recent employment rate, the NEDA official said that the employment growth has been broad based.
The demographics covers young people—15 to 24 years old age bracket – which has seen a drop in unemployment rate.
Asked on the prospects of fresh graduates of landing jobs, she said, “(s)a ngayon, nakikita namin na maayos ang ating labor market. Iyon nga, nakita natin patuloy iyong pagbaba ng unemployment rate – even the underemployed.”
“So ang gusto na lang namin nito is i-improve iyong quality, quality noong jobs na makukuha nila. So for the new graduates, again, kung ang tingin ninyo is parang nandoon ka sa course, ang pinag-aralan mo eh hindi ganoon ka-in-demand – lagi naman pong naglalabas ang DOLE ng ito iyong in-demand jobs ngayon,” she said. PND