The Philippines recorded an impressive 41% year-on-year increase in hiring activity, with the foundit Insights Tracker (FIT) index climbing from 116 in November 2023 to 164 in November 2024. Month-on-month, hiring activity saw a modest 1% growth, reflecting a steady expansion in job opportunities. Over the past three months, the Philippines witnessed a 15% surge in hiring, fueled by rising foreign investments and a favorable business environment.
Sectoral Growth Highlights
All 12 industries monitored by FIT reported annual growth in November 2024, showcasing a resilient and diverse hiring landscape.
- Retail (+113%): Continued growth in e-commerce and multichannel retailing boosted hiring for digital retail and logistics roles.
- Logistics & Transportation (+100%): Marked growth driven by investments in advanced logistics and supply chain operations.
- Education (+95%): A notable rise fueled by increased demand for skilled professionals in the evolving education sector.
- Advertising & Media (+77%): Growth reflects heightened emphasis on digital marketing and brand visibility campaigns.
- IT & Telecom (+2%): Despite a modest annual rise, this sector achieved an impressive 18% growth over the past three months, signaling recovery in tech hiring.
Other sectors contributing significantly included:
- Hospitality (+73%): Bolstered by rising tourism and economic recovery.
- BPO/ITES (+61%): Continued demand for customer support and IT-enabled services.
- BFSI (+31%): Growth driven by the expanding financial sector.
- Healthcare (+18%), Engineering, Construction & Real Estate (+10%), and Production/Manufacturing (+16%): Reflecting steady demand across essential industries.
Functional Area Trends
Hiring trends remained positive across 9 of 10 monitored functional areas.
- Purchase & Supply Chain (+120%): Reflecting the scaling of distribution networks in response to growing online shopping demand.
- Sales & Business Development (+94%): Driven by efforts to expand sales channels and meet evolving consumer needs.
- Marketing & Communications (+84%): Increasing reliance on digital strategies continues to create demand for skilled professionals.
While Software, Hardware, and Telecom (-2%) faced a slight annual decline, a three-month growth of 20% highlighted the sector’s focus on AI/ML and data engineering roles. Additionally, strong growth was recorded in:
- HR & Admin (+66%), Customer Service (+40%), Hospitality & Travel (+49%), Finance & Accounts (+33%), and Healthcare (+31%), reflecting broad-based functional growth.
About the foundit Insights Tracker
The foundit Insights Tracker (FIT) is a comprehensive monthly analysis of online recruitment trends, providing actionable insights into industries, functions, and geographies. It helps employers and job seekers adapt to the evolving hiring landscape.
For more insights, visit foundit or contact PR@foundit.ai.
