The Philippines witnessed volatility in its job market in August 2023, with a 9% decrease in job demand when compared to the same period a year ago, according to the latest foundit Insights Tracker (fit) report.

Despite this decline, the monthly uptick was 3% which suggests a reviving job market, hinting at the potential for recovery in the near future.

The retail sector witnessed remarkable annual growth (+45%). Within the hospitality sector, recruitment demand remained flat. However, the Philippines faced challenges in the logistics sector (-35%). 

In the technology domain, notable declines were observed in IT, Telecom/ISP, and BPO/ITES. The unpredictable global landscape impacted these sectors, with the Philippines reporting declines in IT, Telecom (-22%) and no growth in BPO/ITES.

The Philippines also experienced growth in the customer service domain, recording a 6% annual increase, in line with its position as a hub for customer service outsourcing activities within the BPO sector. 

Notably, there was a 23% yearly contraction in marketing & communications roles, possibly reflecting adjustments in marketing strategies amidst evolving market dynamics. Hospitality and travel roles remained flat year-on-year.

Meanwhile, Purchase/ Logistics/ Supply Chain professionals faced diverse challenges with a decline of 24% over the year.

The foundit Insights Tracker offers a detailed perspective on hiring patterns in the Philippines.