Jobs and talent platform foundit (formerly Monster APAC & ME) published the foundit Insights Tracker (fit) for January 2023, formerly published as Monster Employment Index (MEI), showing that the Philippines witnessed a 4% month-on-month (MoM) growth in online hiring activity in January 2023 compared to December 2022.
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, the company said. 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-19, 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 2023 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.
The 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 organizations 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 2023.