Holiday Spending and Elections Drive Job Growth in the Philippines

Local jobs data is expected to show continued improvement in the coming months, driven by holiday spending and preparations for the 2025 midterm elections, according to economist Michael Ricafort from Rizal Commercial Banking Corporation. These trends will lead to more in demand jobs in the Philippines, as businesses recover and consumer activity increases, particularly during the Christmas season. The employment rate in the country has already reached 96.3% in September 2024, up from 95.5% the previous year, while the unemployment rate dropped to 3.7%.

Ricafort highlighted that the increase in demand during the holiday season, coupled with government spending for the upcoming elections, will create even more job opportunities. This is expected to be supported by temporary work during Christmas-related activities and infrastructure projects. Although there are potential risks such as work stoppages due to typhoons, the overall outlook for job creation remains positive.

Impact on the Philippine Economy/Industry

The growth in employment is a promising sign for the Philippine economy. As holiday spending increases, businesses, particularly in retail and hospitality, will continue to recover, strengthening the economy and creating a more favorable environment for job creation. The upcoming elections will further boost economic activity as government spending rises, providing opportunities in various sectors. This recovery helps improve consumer confidence, which could lead to further investments and growth across multiple industries.

At the same time, job seekers should also look for opportunities in future-proof jobs that align with industries experiencing long-term growth. Sectors like digital services, logistics, and infrastructure development offer roles that are expected to remain in demand even after the seasonal and election-related hiring surge subsides.

How it Affects Employment

With the increase in job creation during the holiday season and election preparations, job seekers can expect more openings across different sectors. Seasonal employment will be a key driver, especially in industries tied to Christmas-related consumer demand. The midterm elections will also prompt additional hiring, particularly for government-related projects and infrastructure initiatives. This overall trend points to continued improvement in the employment landscape, with more job hiring in 2025 benefiting from both private and government-driven activities.

Specific Impact on Job Hiring

The seasonal demand during Christmas and preparations for the 2025 midterm elections will influence hiring trends, with increased recruitment in sectors such as retail, logistics, construction, and government services. Retailers will ramp up hiring for roles in sales, customer service, and warehouse management to accommodate higher consumer spending. Meanwhile, the construction and public service sectors will see more job opportunities due to infrastructure projects and election-related activities. Job seekers should stay alert for temporary and project-based roles that are expected to grow, especially in logistics and public services.

Plan of Action/Recommendations

For those currently job hunting, now is an ideal time to take advantage of the seasonal surge in demand and the economic boost from government spending. Stay informed about the latest job openings in your region and make sure to meet the application requirements early to secure a position. Additionally, consider looking for opportunities in sectors tied to infrastructure projects, as these will likely see sustained growth through 2025.