Philippines records a 10% year-on-year rise in hiring activity in Dec 2023

Notably, the professions in high demand were customer service (+26%), HR & admin (+18%), and marketing & communications (+17%).

The Philippines recorded a 10% rise in hiring activity in December 2023. For comparison, November reflected an index value of 116 while December recorded 128. 

This was also a significant leap compared to the previous value of 116 recorded in December 2022.

With an 8% increase in hiring demand in the past three months, the Philippines' Foundit Insights Tracker attributes this surge in job opportunities to heightened holiday spending and increased demand for goods and services in the region. To add on, initiatives by the Filipino Government also helped to foster growth, contributing to a significant rise in the employment rate, it was highlighted.

The industries with the highest growths in December 2023 were:

• retail (+60%),
• education (+49%),
• BPO/ITES (+11%), and
• healthcare (+11%).

The retail sector in particular witnesses a surge in online hiring demand, driven by heightened demand for goods and services during the festive season; while the education sector was said to have experienced exponential growth, and the BPO/ITES sector sustained its positive annual trend increase.

On the other hand, the IT, Telecom/ISP (-18%) sector continued to face a significant reduction in hiring activity, marking a decline. Similarly, the consumer goods/FMCG, food & packaged food (-14%), and BFSI (-4%) sectors also registered annual downturns. That being said, according to the tracker, these sectors have exhibited growth in job demand over the last month, indicating a potential shift in the hiring landscape.

Overall, other industries which registered positive growth were:

• engineering, construction, and real estate (+9%),
• logistics, courier/ freight/ transportation, shipping (+7%),
• advertising, MR, PR, media & entertainment (+6%), and
• hospitality (+4%)

However, production/manufacturing, automotive and ancillary (-1%), displayed fewer annual opportunities in December 2023.

Notably, the professions in high demand were customer service (+26%), HR & admin (+18%), and marketing & communications (+17%), with the surge in hiring for customer service professionals is primarily attributed to the continuous expansion within the BPO sector. 

Other functions to witness an increase in hiring activity for the month:

• purchase/logistics/supply chain (+15%),
• sales & business development (+4%),
• engineering/production/real estate (+4%)
• hospitality & travel (+3%), and
• software, hardware, telecom (+6%).

The only sector that experienced a decline in annual hiring activity for the month was finance & accounts (-1%). Meanwhile, healthcare (0%) roles maintained a consistent but muted demand annually during the same period.

Lead image / Philippines' Foundit Insights Tracker