"The US will continue to hire more skilled workers and Filipinos who have the skills will continue to benefit from this," said economist Nicholas Kwan, head of Standard Chartered Bank research (East), who conducted an economic briefing by the bank here recently.

According to Kwan, major multinational companies in the US, especially those in the health and finance sectors are still looking for competitive people.

Citing research studies and industry records, Kwan said even if the unemployment rate in the US has dipped from 9.8 to 9.5 percent, the level remains high. Nonetheless, he said, “this does not equate to the shrinking of job opportunities.”

While there are industries in the US that continue to face the ill effects of the global crisis, some industries there have also sustained their growth, such as those in the medical and finance sectors and other fields.

A good indicator that more work is available for Filipinos abroad, Kwan said, is the sustained remittance volume of Filipino workers abroad that has not gone down, which means Filipino skilled workers continue to have promising work opportunities in the US.

Overseas Filipino worker (OFW) remittances grew by 8.2 percent to a record level $18.76 billion last year from $17.35 billion in 2009 due to the continued demand for skilled Filipino workers as well as the expansion of remittance centers abroad, giving OFWs more options to send money to designated recipients back in the Philippines.

The US accounted for 52 percent or $9.09 billion of total remittances in 2010, followed by European countries with 17 percent or $3.18 billion, and Asian countries with 12.6 percent or $2.36 billion.

Meanwhile, in said briefing, Kwan also encouraged Filipinos to seek employment opportunities around the Asian region.

"The opportunities now are directed to the Asian region, wherein 'multi-speed' recovery is happening. Thus, while employment opportunities may still look good in the US, perhaps Filipinos may also consider the promising opportunities that Asia will be offering in the short and long term," he said.

Kwan pointed out that “the world is different now since the (global financial) crisis broke; Asia is currently contributing 40 percent of the world’s growth, which is one-third of the world’s GDP."

Kwan said what sustained Asia during the global economic crash was the active market in the region, where 90 percent of Asia’s growth is fueled by its own market.

Malou Mozo, Manila Bulletin