BPOs to help Manila’s employment growth — Oxford Economics
MANILA, PHILIPPINES — Manila’s dynamic Business Process Outsourcing (BPO) industry could help the city maintain a balanced employment growth this year, said Oxford Economics.
In its latest report, the think tank stated that the Philippine capital city is expected to stand out among other cities in Asia Pacific (APAC) due to its high employment growth.
Philippine Statistics Authority (PSA) head Dennis Mapa said earlier that the average employment rate in the Philippines for 2022 was 94.6%, up from 92.2% in 2021.
Meanwhile, the local IT-BPM industry’s headcount rose 8.4% to 1.57 million full-time employees.
Under the Philippine Information Technology (IT) – Business Process Management (BPM) Roadmap 2028, the industry targets 1.7 million full-time employees this year.
On the other hand, Oxford Economics expects slower employment growth in other advanced APAC cities — except those in China — due to weak global macroeconomic conditions that will put negative pressure on output growth and affect jobs.
