PH firms positive on job creation, anxious about talent
MANILA, PHILIPPINES — Companies in the Philippines are optimistic about the impact of global trends and technology on job creation, said World Economic Forum (WEF).
In WEF’s The Future of Jobs Report 2023, Philippine-based respondents tagged digital access as the biggest global trend driving industry transformation. About 71% — more than double the 33.7% worldwide — said this would create jobs.
Increased adoption of new technologies and applying environmental, social, and governance standards followed, with a net 52% and 36% saying job creation would be positive.
However, firms in the country were concerned about the availability of talent, with 41% of Philippine respondents predicting hiring struggles over the next five years.
More than 80% of firms in the Philippines — as well as Colombia and Sweden — expect an insufficiently skilled talent pipeline by 2027.
AI and machine-learning specialists, sustainability specialists, business intelligence analysts, and information security analysts were the fastest-growing roles worldwide, while the steepest drops were expected in clerical or secretarial roles.
