A leading job and talent platform unveiled its latest foundit Insights Tracker (fit) report, showcasing a 20-percent increase in hiring activity in the Philippines for October 2024.
The surge, driven by strategic economic reforms and infrastructure development, highlights the region’s potential for robust economic growth.
The report indicates a significant rise in hiring activity, with the index reaching 163 in October 2024, up from 118 in October 2023. The increase underscores the robust recruitment momentum in the Philippines, according to foundit, which is formerly known as Monster.
Hiring activity saw a 15-percent month-on-month increase, with the index rising from 142 in September 2024 to 163 in October 2024, reflecting a strengthening job market.
Over the past six months, hiring activity surged by 21 percent, driven by government initiatives focused on infrastructure development and economic reforms aimed at attracting foreign direct investments (FDI).
The retail sector experienced a 119-percent year-on-year increase in hiring demand, driven by the e-commerce boom. This highlights the growing importance of digital transformation in meeting consumer needs.
The logistics, courier, freight and transportation sector saw a 78-percent annual growth, reflecting expanded supply chain operations. The advertising, market research, public relations, media and entertainment sector recorded a 70-percent increase in hiring activity, showcasing the dynamic nature of these fields.
