Key Highlights of the Month
The Philippines’ foundit Insights Tracker for June 2024 reports a significant 13% year-on-year increase in hiring activity. The FIT index climbed from 124 in June 2023 to 140 in June 2024, highlighting the growing demand for talent across various sectors. Additionally, there was a 4% month-over-month increase in hiring activity, with the index rising from 135 in May 2024 to 140 in June 2024. Over the past three months, hiring activity has seen a 6% increase, reflecting a robust job market driven by strong economic fundamentals and proactive measures by both the government and the private sector.
Hiring Trends – Industry
Robust hiring growth was observed in 10 out of the 12 monitored industries in June 2024.
In Demand:
- Logistics Courier/Freight/Transportation and Shipping (+63%): This sector saw extraordinary annual growth, driven by the e-commerce boom and infrastructure improvements from government initiatives.
- Retail (+60%): Benefiting from a surge in consumer spending and the expansion of the luxury goods market.
- Advertising, Market Research, Public Relations, Media, and Entertainment (+28%): Increased demand for digital marketing and media roles.
Facing Challenges:
- IT, Telecom/ISP (-21%): Continued to face significant annual declines in hiring activity.
- Consumer Goods/FMCG, Food & Packaged Food (-7%): Experienced a decrease in hiring demand.
Other Growth Areas:
- BPO/ITES (+26%)
- Engineering, Construction, and Real Estate (+9%)
- Healthcare (+12%)
- Education (+25%)
- Hospitality (+26%)
Hiring Trends – Functional Area
9 out of 10 functions monitored by the tracker exceeded year-ago levels in June 2024.
In Demand:
- HR & Admin (+83%): Driven by digital transformation and regulatory compliance needs.
- Purchase/Logistics/Supply Chain (+82%): Reflecting strong annual growth.
- Marketing & Communications (+47%): Continued demand for digital marketing expertise.
Facing Challenges:
- Software, Hardware, Telecom (-13%): Continued to experience 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 Insights Tracker
