The Ministry of Labor, Invalids and Social Affairs forecasts that in the first quarter of 2024, there will be about 51.7 million people employed nationwide, an increase of 217,000 compared to the fourth quarter of 2023. While some industries will see strong hiring, there are still professions that will experience a decrease in labor demand.
VIBRANT RECRUITMENT IN MAJOR MARKETS
The Ministry of Labor, Invalids and Social Affairs assesses that the labor market is still recovering. Positive signals are evident in the first quarter of this year, with several professions projected to see an increase in employment, such as food processing, expected to increase by 1.8%; electrical equipment manufacturing, leather production and related products expected to increase by 1.6%…
The beginning of the year also shows growth in the largest labor markets nationwide. For example, in Hanoi, according to the Hanoi Employment Service Center, the labor market is on the path to recovery and continues to thrive due to government attention. Businesses are actively recruiting employees from the beginning of the year.
According to Mr. Vu Quang Thanh, Deputy Director of the Hanoi Employment Service Center, based on analysis and synthesis, the organization has forecasted that local businesses in Hanoi will need around 120,000 positions to be filled in the first quarter of 2024.
The recruitment sources are relatively large and diverse, covering various industries and sectors, but primarily focusing on trade and services, industrial processing and manufacturing, textile and leather goods, information technology, e-commerce, finance and banking, and insurance.
To meet the labor requirements of businesses for production and business activities from the beginning of the year, the Hanoi Employment Service Center has coordinated with local employment service centers, especially in provinces and cities in the northern region, to organize online job fairs.
In addition, the center plans to hold over 250 job fair sessions this year, including 222 daily sessions and 10 online sessions. There will also be specialized job fair sessions, sessions for specific groups, as well as mobile job fair sessions in districts and towns throughout the city to meet the diverse job search needs of laborers.
In Ho Chi Minh City, according to the Center for Labor Demand Forecasting and Market Information, the recruitment demand continues to rise in the early months of the year.
In the first quarter of 2024, the city will need about 77,500 – 86,000 job positions. Trade and service sectors will account for 72.63% while industry and construction will account for over 27%; the remainder will be in agriculture and aquatic products.
In terms of educational qualifications, training is projected to create 68,604 – 76,128 job positions, accounting for 88.52%; with the highest demand for those with university qualifications, followed by those with college and vocational qualifications.
PREVENTING LOCAL LABOR SHORTAGES
Despite the positive signals at the beginning of the year, the Ministry of Labor, Invalids and Social Affairs recognizes that in 2024, the economy will continue to face many challenges and disadvantages due to instability and risks arising from ongoing military conflicts in the world.
However, exports are expected to strongly recover as global market demand increases.
Domestic demand is also recovering, public investment and private investment are expected to recover, wage reforms in 2024 will create significant purchasing power, contributing to economic growth…
These factors will continue to impact the labor market, with many industries experiencing a rebound in labor demand, while others will see a decrease. It is projected that in the first quarter, certain industries may experience a decrease in employment, such as specialized construction activities and electrical equipment manufacturing…
In this context, the Ministry requires localities and units to closely monitor labor market developments and implement solutions to attract workers back to work, maintain labor supply chains, and prevent local labor shortages.
It is particularly important to maintain harmonious and stable labor relations and prevent local labor shortages after the Lunar New Year. In addition, it is necessary to review and understand the production and business situation of enterprises, labor demand, especially for FDI enterprises and industries that employ a large number of workers, such as garments, footwear, and wood production…
Based on the practical situation, plans should be formulated to connect labor supply and demand, connect job seekers with employers, increase the frequency of job fair sessions, prioritize online job fair sessions, and support job seekers in finding employment early…
