The Hanoi Center for Employment Services’ November labor market report indicates that companies are currently in a rush to ramp up their year-end recruitment efforts.
According to the Hanoi Center for Employment Services, in November, industrial enterprises in the area experienced a surge in production and business activities to meet the high consumer demand during the upcoming major year-end holidays.
A MAJORITY OF JOB SEEKERS FALL INTO THE UNSKILLED GROUP
Based on data compiled by the Hanoi Statistics Office, the number of workers employed in industrial enterprises at the end of November is estimated to have increased by 0.2% from the previous month and 1.1% from the same period last year.
The estimated hiring demand for the entire city in November was approximately 40,179 positions. By surveying and collecting information on 5,089 vacant jobs from 1,657 businesses at the Center, it was found that the hiring demand was concentrated in sectors such as wholesale, retail, and other services, accounting for about 54.26%, followed by the manufacturing industry and construction.
The business with the highest recruitment demand was for service and sales personnel, accounting for 45.09% (an increase of 3 percentage points from the previous month), followed by technicians/skilled workers, accounting for 21.41% (an increase of 7.5 percentage points from the previous month).
In terms of professional qualifications, businesses primarily recruited workers with a university degree or higher (accounting for 43.53% of the total recruitment demand), while unskilled laborers accounted for 25.37%, and technical workers without a degree or vocational certificate made up the rest.
The most common salary range offered by businesses to employees was between 5 and 10 million VND, accounting for 67.02% of the total recruitment demand, while about 15.5% of the positions offered salaries ranging from 10 to 20 million VND.
The Hanoi Center for Employment Services assessed that in November each year, the recruitment demand increases across many industries, especially in retail, services, logistics, construction, and manufacturing.
Businesses tend to expand their workforce to cater to the year-end shopping and festival season, meeting the increased production and supply demands for the market. This leads to a surge in demand for part-time positions, providing a quick job search opportunity for workers in these sectors.
It is estimated that in Hanoi, about 22,065 people were looking for jobs in November.
Based on a survey of 9,095 job seeker profiles at the Center, most job seekers expected a salary between 5 and 10 million VND, accounting for 65.15%, while 26.87% sought salaries between 10 and 20 million VND…
In terms of professional qualifications, the majority of job seekers (41.57%) fell into the unskilled group, including production workers and sales staff. Nearly 27% of those with a university degree or higher were looking for office jobs, accounting, or technical positions…
SEVERAL INDUSTRIES FORECASTED TO HAVE INCREASED RECRUITMENT DEMAND
Assessing the Hanoi labor market situation in the last month of the year, the Hanoi Center for Employment Services concluded that along with the positive economic recovery, businesses’ psychology regarding economic growth prospects for the whole of 2024 has been steadily improving.
Expectations for growth are shifting from conservative to more optimistic scenarios. International organizations also highly appreciate Vietnam’s strong economic growth, leading them to adjust their GDP growth forecasts for Vietnam by about 0.5 percentage points compared to the predictions made at the beginning of 2024.
The strong economic recovery is anchored in three main pillars: exports, consumption, and investment, which provide a tremendous boost to the recovery of the Vietnamese labor market in general and Hanoi in particular.
In the year-end period, businesses tend to increase their recruitment efforts to meet the production and business demands during the peak holiday season at the end of 2024 and the beginning of 2025. Enterprises in the industrial-construction sector and those in the real estate business usually have higher recruitment needs during this time.
Notably, the Hanoi real estate market is more vibrant than ever, with positive signals from projects and auction activities. The bustling pace of real estate business towards the end of the year has led to increased recruitment demand in this sector.
Additionally, it is predicted that some other sectors will also experience increased recruitment demand, such as wholesale and retail, which are expected to rise by 4.5% compared to the previous month; the manufacturing industry is projected to increase by 5%; and the financial, banking, and insurance activities sector is anticipated to grow by 3%. However, some sectors may witness a decrease in recruitment demand, including professional, scientific, and technical activities, as well as administrative and support services…
Mr. Vu Quang Thanh, Deputy Director of the Hanoi Center for Employment Services, stated that, similar to the previous year-end, businesses currently have higher recruitment targets, focusing on two segments: full-time and part-time workers.
For part-time positions, businesses do not require candidates to have extensive qualifications but rather look for individuals with good health, diligence, and attention to detail. “At this point, we are receiving numerous recruitment orders from businesses for both full-time and part-time workers,” said Mr. Vu Quang Thanh.
Along with receiving recruitment orders from businesses, the Center will assess the specific situation of the labor market to provide job seekers with appropriate advice and timely support businesses in their recruitment processes.
Additionally, the unit continues to coordinate with local authorities in the city to connect and address employment issues, especially in disseminating and supplying timely labor market information.
The job fair activities will also be further enhanced, connecting with satellite fair locations. It is expected that the Center will organize 24 job transaction sessions in December.
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