Recruitment in the Philippines job market recorded an increase of 18% in February 2024 when compared to February 2023, according to the latest foundit Insights Tracker (fit) report.

According to the Philippines ‘fit’ report, February 2024 recorded a strong rise in hiring activity, with the index climbing to 150, marking a significant increase from the previous value of 127 registered in February 2023. This surge indicates a substantial leap in hiring activity, highlighting the dynamic growth of the job market.

The tracker recorded a 13% rise in hiring activity month-on-month, with January 2023 reflecting an index value of 133.

The latest insights from the tracker also showed 17% growth over the past three months, reflecting a dynamic transformation in the recruitment landscape.

“This transformation is propelled by the rapid integration of emerging technologies, which are reshaping conventional practices and opening new avenues for talent acquisition. It reflects the resilience and adaptability of the Philippines job market amidst shifting technological and economic dynamics,” foundit stated.

Sekhar Garisa, CEO, foundit, said, “The notable increase in hiring activity showcased by the foundit Insights Tracker underscores the resilient and dynamic nature of the Philippines job market. Our findings emphasise the significant influence of emerging technologies on recruitment strategies, indicating a transformative change in talent acquisition methods. In the face of shifting economic conditions, businesses must adapt and harness technological advancements to meet the increasing demands of the workforce effectively.”

Growth was seen in 9 out of the 12 monitored industries in February 2024, year-on-year. The retail sector saw a surge of 49%, outpacing all other sectors. This increase is attributed to the rise of mobile commerce, fueled by the increasing adoption of digital payments. Similarly, the education industry saw a significant increase of (+42%), while heightened demand in social commerce drove a (+36%) surge in hiring within the logistics, courier/freight/transportation, and shipping sectors.

However, the IT, Telecom/ISP sector witnessed a notable annual reduction in hiring activity (-21%), although it experienced a (+6%) growth over the last three months. Sectors such as consumer goods/FMCG, food & packaged food (-17%) and healthcare (-4%) reported significant annual decreases in hiring activity in February 2024.

Online recruitment activity surpassed the year-ago level in 7 of the 10 occupation groups monitored by the tracker. Purchase/logistics/supply chain (50%) professionals witnessed remarkable demand, marking a double-digit growth over the last month. HR & admin roles (27%) followed closely with substantial growth, alongside marketing & communications job roles +26%) driven by the rise of personalised marketing strategies.

Despite challenges encountered by specific functions such as healthcare (-4%) sales & business development (-1%) and hospitality & travel (-1%), there was also notable growth in customer service roles (17%). Additional roles experiencing a rise in hiring activity in February 2024 include engineering/production/real estate (+7%), finance & accounts (+3%), and software, hardware, telecom (+3%).

Software, hardware, and telecom roles witnessed an 8% growth in the last three months, primarily driven by significant demand in IoT (Internet of Things) and AI/ML.

The foundit Insights Tracker is a comprehensive monthly analysis of online job posting activity conducted by foundit.