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Philippines’ Hiring Landscape in May 2024: Key Takeaways from the foundit Insights Tracker

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. 

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