There's Been a 50 Percent Drop in Hiring Due to COVID-19, According to Study
We all know that the pandemic has changed everything—especially when it comes to employment. The question is: just by how much? A new study gives a better look at the rate of hiring drops, and it's probably much higher than you thought.
According to online job portal JobStreet, there's been a 50 percent drop in hiring during the pandemic. And, it's become more apparent as applicants for job offers rose five times to 400 per listing. A pay cut was also observed since employers "could not afford to just continue paying the same amount."
"When the pandemic came in and the lockdowns came in it dropped significantly by more than 50 percent," says JobStreet Philippines country manager Philip Gioca.
He continues, "So, there are many people doing three jobs because two of that are part time jobs. Given the new mobile and the new things that is happening. We see that there will be more people attracted to the various types of jobs given the pandemic."
Since the first lockdown in March, millions of Filipinos have lost their jobs due to the closure of offices, factories, markets, and shopping malls. A survey by Social Weather Stations showed that the total estimated number of jobless adults in July had hit 27.3 million.