Key Highlights of the Month
The Philippines’ foundit Insights Tracker records a 6% surge in hiring activity from May 2023 to May 2024. In May 2024, the FIT index climbed to 135, up from 127 in May 2023. Additionally, hiring activity saw a 2% month-over-month (MoM) increase, rising from 132 in April 2024 to 135 in May 2024. The latest tracker data indicates a significant 5% increase in hiring activity over the past six months.
Hiring Trends – Industry
Robust hiring growth was observed in 10 out of the 12 monitored industries in May 2024.
In Demand:
- Retail (+112%) expanded significantly YoY, driven by the luxury goods market growth.
- Logistics, Courier/Freight/Transportation, and Shipping (+45%) also experienced remarkable YoY growth, with a notable 13% uptick compared to the previous month.
- Advertising, Market Research, Public Relations, Media, and Entertainment (+14%) saw an annual increase in job openings.
Facing Challenges:
- IT, Telecom/ISP (-23%) faced a significant annual drop.
- Consumer Goods/FMCG, Food & Packaged Food (-11%) registered an annual dip.
Other Growth Areas:
- BFSI (+5%)
- BPO/ITES (+7%)
- Engineering, Construction, and Real Estate (+7%)
- Hospitality (+8%)
- Healthcare (+10%)
Hiring Trends – Functional Area
9 out of 10 functions monitored by the tracker exceeded the year-ago level in May 2024.
In Demand:
- Purchase/Logistics/Supply Chain (+63%) saw a continuous surge, reflecting the strongest annual growth.
- HR & Admin (+28%) and Sales & Business Development (+27%) continued their robust growth, with data analytics as a key skill.
Facing Challenges:
- Software, Hardware, Telecom (-14%) roles continued to drop.
- Hospitality & Travel (0%) experienced muted demand annually.
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 the hiring trends in the Philippines.
