Hanoi sees jobs rebound as thousands get hired by 2024

After months of looking for work, Nguyen Van Long, a former technical maintenance and repair worker for a Japanese-owned industrial sewing machine company with a monthly salary of VND14-16 million (US$571-US$653), has found a new job.

He was one of the workers made redundant when the company started to fail.

"Recently, I attended a job fair organized by the Hanoi Centre for Employment Services and found a new job that suits me," Long said excitedly.

Long is one of tens of thousands of workers in Hanoi who have found jobs in the first two months of this year.

Students majoring in Electrical - Electronics at the Hanoi College of Electronics and Electro-refrigeratory Technics (HCEET). Photo: HCEET

The labor market has rebounded as many businesses hurriedly joined production after the Tet (Lunar New Year) period in the capital city. In January-February, Hanoi provided employment for more than 28,200 workers, achieving 17.4% of the annual plan, an increase of 1.4% compared to the same period in 2023.

According to the Hanoi Department of Labour, Invalids and Social Affairs, in February, the city created jobs for 12,715 people, including 3,119 workers hired thanks to the city's funds disbursed through the Social Policy Bank, with a total amount of VND195.5 billion ($8 million).

Thanks to its timely assessment of the post-Tet holiday employment situation in industrial parks and timely support, the department has helped enterprises overcome labor shortages in the first months of the year, especially after Tet.

The Hanoi Center for Employment Services provided job counseling and placement services to 3,859 workers and supported 55 vocational training students with a budget of VND 230.2 million (US$ 9,409).

Nguyen Tay Nam, Deputy Director of the Hanoi Department of Labor, Invalids and Social Affairs, said that the labor market is expected to continue facing a shortage of labor this year and next year. Therefore, the city would continue implementing measures to develop the labor market and create job opportunities.

In 2024, Hanoi aims to provide employment for 165,000 workers.

To achieve this target, the Hanoi Department of Labor, Invalids, and Social Affairs is developing a labor market information system, enhancing the application of information technology, and undertaking digital transformation.

Other activities include strengthening the links between labor supply and demand in the market, guiding the collection and updating of labor market information, reviewing and assessing demand by sector and field, organizing training programs to develop the skills of the workforce, and promptly responding to the demands of the labor market.

This year, the department also plans to organize 230 job transaction sessions in daily, online, specialized, mobile and direct recruitment forms to provide employment opportunities for 20,000 people.

The city will also provide vocational training for the workforce, aligning training with the needs of the capital's job market.

"Every year, we organize a Vocational Education Connection Day, which has helped people gain access to training institutions and companies, leading to employment opportunities," Nam said.

This year, vocational schools in Hanoi will train about 235,000 people (26,000 at the college level, 29,000 at the intermediate level, and 180,000 at the basic level and through courses of less than three months). The proportion of trained workers will reach 74.2%, of which 54% will have a degree or certificate.

Vietnam leads 15 countries in the number of workers sent to Japan. Photo: VOV

In addition to domestic policies to support job creation, promoting labor migration through overseas employment contracts is also one of the strategies to create jobs.

The city continues to explore and develop new markets in Europe and the Americas while consolidating traditional markets by implementing measures to prevent contract breaches and illegal workers.

This year, the city will send 4,000  workers on contract overseas, focusing on markets with high and stable incomes, such as Japan, South Korea, and Taiwan (China).