The foundit Insights Tracker (FIT) for the Philippines has unveiled a notable 9% increase in hiring demand annually as of April 2024.
The FIT index shows a positive trend compared to the same period last year. Despite a 6% month-on-month decline, the overall trajectory reflects a positive outlook on an annual basis.
The tracker also highlights a significant 12% decrease over the past three months, emphasising the need for job seekers to remain agile and continually update their skill sets amidst changing dynamics.
Hiring Trends – Industry
9 out of 12 industries monitored by the FIT have witnessed an annual increase in hiring activity in April 2024.
In Demand:
The Retail sector leads with an impressive 77% annual growth, driven by businesses leveraging robust growth momentum across diverse segments.
Logistics, Courier/Freight/Transportation, and Shipping saw a notable 34% increase, while Hospitality experienced a 22% surge.
Facing Challenges :
The IT, Telecom/ISP sector continues to face a significant annual decrease of 18%, with the Consumer Goods/FMCG, Food & Packaged Food sector registering a 9% drop. The Healthcare sector witnessed a marginal 1% dip annually.
Notable Growth:
Several other sectors displayed positive growth trends: Production/Manufacturing, Automotive and Ancillary (+3%), BPO/ITES (+4%), BFSI (+11%), Engineering, Construction, and Real Estate (+13%), Advertising, Market Research, Public Relations, Media, and Entertainment (+20%), and Education (+16%).
Hiring Trends – Functional Area
9 out of 10 functional areas tracked saw an annual increase in online recruitment activity.
In Demand:
Purchase/Logistics/Supply Chain roles witnessed a remarkable 52% growth, primarily attributed to the continuous expansion within the Retail sector.
Marketing & Communications experienced a 30% surge, while HR & Admin roles saw a 23% increase.
Facing Challenges:
Software, Hardware, Telecom roles experienced a 5% annual decline, marking the only sector with a decrease. Additionally, these professionals saw a 9% dip over the last month.
Other functions experiencing annual increases include Customer Service (+1%), Hospitality & Travel (+7%), Healthcare (+7%), Engineering/Production/Real Estate (+9%), Finance & Accounts (+11%), and Sales & Business Development (+13%).
About the foundit Insights Tracker
The foundit Insights Tracker (FIT) Philippines, earlier known as the Monster Employment Index, is the leading guide to the Philippines’ e-recruitment landscape. By examining millions of job listings, FIT provides insights into hiring trends in the Philippines.
