foundit (formerly Monster APAC & ME), one of the leading talent platforms, today published the foundit Insights Tracker (fit) for January 2023, formerly published as Monster Employment Index (MEI). Philippines witnessed a 4% month-on-month (MoM) growth in online hiring activity in January ’23 compared to December ’22, according to the fit report. The company Monster APAC & Middle East was rebranded as foundit in November 2022.
Despite the 7% annual drop in e-recruitment activity, the MoM increase in hiring is a testimony to the reviving job market in the Philippines. However, the emphasis remains on re-skilling and upskilling employees to thrive in current market dynamics.
The healthcare sector witnessed the steepest monthly growth (+11%) as health remains a top priority across rural and urban areas in the country, especially post-Covid, and fast-paced innovations have made accessibility to healthcare easier for Filipinos. The country had also recently passed a few landmark health laws focussed on building a healthier ecosystem. This projects a continuous demand in the job market and hence the steady requirement for highly qualified medical staff.
Commenting on the Philippines’ job trends for January 2023, Sekhar Garisa, CEO, foundit, said, “Despite the global slowdown, the Philippines’ job market is showing remarkable resilience, with positive momentum month over month. As businesses across various sectors pivot and incorporate technological innovations, the job market is experiencing a significant boost, particularly in the healthcare, retail, and IT industries. These sectors are witnessing tremendous growth and creating new employment opportunities. Moreover, the country’s robust supply chain and thriving service sector have added to this positive momentum. Overall, the Philippine job market appears to be bouncing back to its pre-pandemic levels, showcasing an impressive recovery amidst challenging global conditions.”
Other sectors that showcased promising growth in January’23 are Logistics, Courier/ Freight/ Transportation/Import/Export/Shipping (+7%), Retail (+3%), Hospitality (+3%), and IT/Telecom (+3%). The rise in e-commerce platforms, internet penetration across the country and increasing demand for industrial freight warehouses can be credited to the rising demand in these sectors. Philippines also noticed positive hiring growth in BFSI (+2%), BPO/ITES (+2%), Engineering, Construction, & Real Estate (+1%), and Advertising Market Research/Public Relations/ Media & Entertainment (+1%) sectors, which have previously made noteworthy contributions to the country’s GDP and have chartered a sequential growth momentum for the sectors.
Across functional roles, the demand for Marketing & Communication (+10%) and Sales & Business Development (+8%) professionals continues to trend as organisations look to improve margins by deploying skilled professionals who add value to their brands. Given the growth of the healthcare industry, Healthcare (+8%) professionals also constituted a significant portion of the overall demand.
The Philippines job market exhibited positive demand for professionals across all functions monitored by Tracker including Purchase/Logistics/Supply Chain (+7%), Customer Service (7%), HR & Admin (+6%), and Finance & Accounts (+4%). The surge in digital marketing initiatives and the rapid deployment of artificial intelligence (AI) has encouraged hiring in these sectors. Given the impressive performance of the hospitality sector, coupled with the recent surge in domestic tourism and the advancements in digital booking, the demand for hospitality and travel job roles (+3%) increased in January ’23.
The foundit Insights Tracker (fit) is a comprehensive monthly analysis of online job posting activity conducted by foundit. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, fit presents a snapshot of employer online recruitment activity nationwide.
Period for the report
The period considered for the foundit Insights Tracker (fit) data is 1st to 31st January 2023.
About foundit – APAC & Middle East
foundit, formerly Monster (APAC & ME), is a leading talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. Since its inception, the company has assisted over 75 million registered users to find jobs, upskill, and connect with the right opportunities across 18 countries. Over the last two decades, the company has been a catalyst in the world of recruitment solutions with advanced technology, seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalized job searches, and their local expertise to aid precision hiring. foundit strongly believes that a job title doesn’t define one’s potential and leverages technology to dig deeper to curate opportunities central to the needs and aspirations of each user.
To learn more, about foundit in APAC & Gulf,
Visit: www.foundit.com.ph | www.foundit.my | https://www.foundit.in | https://www.founditgulf.com | https://www.foundit.sg | www.foundit.com.hk | https://www.foundit.id