Overview of Hiring Activity
The foundit Insights Tracker for the Philippines recorded a 10% increase in hiring activity from December 2022 to December 2023.
There was also a 10% rise in Month-on-month hiring, and a 8% rise in hiring over the past 3 months, driven by holiday spending and government initiatives.
Hiring Trends by Industry (YoY numbers)
9 out of 12 industries monitored by the tracker saw a remarkable hiring growth.
In Demand:
Remarkable annual growth in Retail (+60%), Education (+49%), BPO/ITES (+11%), and Healthcare (+11%). Retail sector benefits from festive demand.
Facing Challenges:
IT, Telecom/ISP (-18%) and other sectors like Consumer Goods/FMCG (-14%), and BFSI (-4%) see downturns but show potential recovery signs.
Hiring Trends by Functional Area (YoY numbers)
11 out of 12 categories saw an increase in recruitment activity compared to the year-ago level.
In Demand:
Significant increase in Customer Service (+26%), HR & Admin (+18%), and Marketing & Communications (+17%).
Facing Challenges:
Slight decline in Finance & Accounts (-1%) and stagnant demand in Healthcare (0%).
About the foundit insights tracker
The foundit Insights Tracker (fit) Philippines, earlier known as the Monster Employment Index, is the leading guide to Philippines’ e-recruitment landscape. By examining millions of job listings, fit provides insights into the hiring trends in Philippines.
