The foundit Insights Tracker (fit) Philippines, formerly the Monster Employment Index, provides a monthly snapshot of the country’s e-recruitment trends, interpreting millions of job postings.
Hiring Snapshot
August 2023 recorded a 9% YoY decline in hiring for Philippines. However, an encouraging 3% MoM growth hints at a reviving job market, despite the 5% dip over the past six months. Industries are keen on reskilling and upskilling, aligning with changing job dynamics.
Sectoral Overview
In Demand: Retail outshines with a +45% YoY surge, fueled by expanding retail outlets. Healthcare, with +8% YoY growth, and Consumer Goods/ FMCG, showing a +1% rebound, are also on the rise.
Challenges: The Logistics sector endured a significant -35% YoY decrease, with Education at -24% and IT and Telecom/ISP down by -22%.
Notably, Hospitality, despite a slight YoY decline, registered a 16% MoM jump.
Other sectors, like BFSI and Production/Manufacturing, witnessed declines, but some, like Advertising, saw MoM improvements.
Functional Insights
In Demand: Boosted by the Retail sector, Sales & Business Development roles saw +15% YoY growth. Healthcare and Customer Service roles also enjoyed positive momentum with rises of +10% and +6%, respectively.
Challenges:
Purchase/Logistics/Supply Chain roles saw a -24% dip YoY, shadowed by Marketing & Communications and HR & Admin with -23% and -22% declines. Yet, Software, Hardware, and Telecom roles echoed a digital renaissance with a +1% growth.
Hospitality & Travel had subdued MoM changes, and roles in Engineering/Production/Real Estate and Finance & Accounts experienced yearly declines.
Dive deeper into the nuanced hiring trends of August 2023 with the fit Philippines report.
