Vietnam’s labor market bounces back as new orders improved

Vietnam’s labor market has improved, sending goods news to workers being laid off in the final quarter of last year due to a shortfall of new orders faced by their companies.

According to a report, the Hanoi Center for Employment Services, in cooperation with job centers in six neighboring provinces, will hold job bazaars to match job supply with demand in the capital city and the localities, with the participation of 60 to 80 employers. The provinces comprise Bac Giang, Bac Ninh, Thai Nguyen, Hung Yen, Bac Kan and Lang Son.

Hanoi City plans to hold 55 job bazaars and provide assistance to 100,000-120,000 jobseekers in the first quarter.

Of the total, the logistics industry requires 14,000-18,000 workers, the hospitality industry 10,000-12,000 workers, the real estate industry 10,000-15,000 workers and the information technology industry around 15,000 new employees.

In 2022, the city helped 203,000 people find a job, exceeding the full-year target by 26.9%, the Hanoi Department of Labor, War Invalids and Social Affairs said, adding that over 18,300 workers found jobs at job bazaars.

Meanwhile, employment demand in southern Vietnam also surged. Earlier, the HCMC Department of Labor, War Invalids and Social Affairs announced on February 2 that the southern metropolis would also hold job bazaars to help the residents of the city, southwestern provinces and central highlands find jobs.

A Shoe Factory in Vietnam

Depending on global economic conditions, the labor demand in the city would require between 280,000 and 320,000 new workers this year, said the Center of Forecasting Manpower Needs and Labor Market Information HCMC.

It estimated that businesses in the city would recruit 79,000-87,000 new employees in the first quarter, with the service industry accounting for over half of the recruitment demand.

Last year, many employees had to deal with reduced work hours or layoffs due to difficulties plaguing the manufacturing sector caused by a lack of new orders, local media reported.

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Source: Vietnam Insider