Key Highlights of the Month
The Philippines’ foundit Insights Tracker recorded a substantial 30% increase in hiring activity from July 2023 to July 2024. The index climbed from 115 in July 2023 to 149 in July 2024. Month-over-month, hiring activity saw a 6% increase, rising from 140 in June 2024 to 149 in July 2024. The job market has grown consistently over the past three months, reflecting broader economic recovery, with significant hiring demand across multiple sectors.
Hiring Trends – Industry
10 out of the 12 monitored industries showed annual growth in July 2024.
In Demand:
- Retail (+103%) led the growth, driven by consumer spending and the expansion of retail outlets.
- Logistics, Courier/Freight/Transportation, Shipping (+65%) saw robust growth with the rise of e-commerce.
- Hospitality (+49%) benefited from new hotel projects and growing tourism.
- Advertising, Market Research, Public Relations, Media, and Entertainment (+48%), Education (+46%), and BPO/ITES (+35%) also showed strong demand.
Facing Challenges:
Hiring Trends – Functional Area
9 out of 10 functions tracked saw annual growth in July 2024.
In Demand:
- Sales & Business Development (+93%) also experienced strong growth, with a 23% monthly increase.
- Purchase/Logistics/Supply Chain (+62%) saw notable demand.
Facing Challenges:
- Software, Hardware, Telecom (-13%) continued to see declines in hiring activity.
About the foundit Insights Tracker
The foundit Insights Tracker (FIT) Philippines, formerly known as the Monster Employment Index, is a leading guide to the Philippines’ e-recruitment landscape. By examining millions of job listings, FIT provides valuable insights into hiring trends in the Philippines. For more information, visit foundit.com.ph
