The Philippines saw an impressive 38% year-on-year surge in hiring activity, with the foundit Insights Tracker (FIT) index jumping from 118 in October 2023 to 163 in October 2024. This reflects a significant uptick in recruitment demand, fueled by government infrastructure projects, foreign direct investments, and growth in green technology sectors. Month-on-month hiring activity rose by 15%, a clear indication of sustained job creation across sectors.
Sectoral Growth Highlights
10 of the 12 monitored industries reported annual growth in October 2024:
- Retail (+119%): The fastest-growing sector, driven by the e-commerce boom and increasing demand for digital retail and logistics roles.
- Logistics & Transportation (+78%): Benefitting from expanded supply chain operations, reflecting a broader trend towards operational efficiency.
- Advertising & Media (+70%): Increased focus on digital campaigns and influencer marketing continues to fuel demand for marketing professionals.
- Hospitality & Education (+53%): A strong rebound driven by economic recovery and renewed investments in tourism and education.
However, IT & Telecom (-5%) recorded a decline, reflecting a slowdown in tech hiring despite a 13% month-on-month growth, signaling recovery efforts.
Functional Area Trends
Hiring growth was observed in 9 of the 10 functional areas monitored:
- Sales & Business Development (+127%): Soared as companies prioritized sales networks to accommodate rising consumer demand.
- Marketing & Communications (+69%): Focus on brand engagement led to significant demand for marketing professionals.
- Purchase & Supply Chain (+103%): A notable rise in logistics-related roles as businesses streamlined operations.
While the Software & Telecom (-9%) function saw an annual dip, its 13% MoM growth hints at renewed focus on digital transformation.
About the foundit Insights Tracker
The foundit Insights Tracker (FIT) is a monthly analysis of online recruitment trends, providing actionable insights across industries, functions, and geographies. As a successor to the Monster Employment Index, it captures the evolving hiring landscape to help employers and job seekers stay ahead. For more details, visit foundit or contact PR@foundit.ai.
