Supply shortage increases job opportunities in Vietnam: Report
The recruitment demand in the upcoming years is forecast to increase steadily, according to an online recruitment report.
The shortage of labor supply through online recruitment in Vietnam in 2015-2019 would present better job opportunities and less competition for employment seekers, according to the a report on online recruitment market for 2019 in Vietnam conducted by VietnamWorks, Navigos Group-backed online recruitment website.
| Photo: KienLong Bank |
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Supply-demand overbalance
According to statistics from VietnamWorks’ application file, the online labor supply nationwide during the five years from the beginning of 2015 to the end of 2019 increased 45% but has not met the demand for employment which grew 55% in the period, meaning a shortage of talent in some industries. However, this can be seen as a positive aspect because workers will have higher job opportunities and face less competition.
When comparing the top three industries with outstanding growth in labor supply in 2019 with the top three industries with high growth in recruitment demand the same year, there are some signs of overbalance and shortage of manpower.
There are signs of oversupply of human resources in some industries such as Banking, Advertising/Promotion/PR and labor shortage in Customer Service and Product/Process industries.
| Top 5 catergories with outstanding growth in recruitment demand. Chart: VietnamWorks |
Labor shortage in high-growth industries
The top three industries with the highest recruitment demand are Sales, Finance/Investment and Administrative/Clerical respectively. These industries also led in the number of applications submitted in 2019.
| Top 5 Categories with outstanding growth in labor supply. Chart: VietnamWorks |
However, there was a slight difference in the ranking when Administrative/Clerical was leading in terms of the number of applications, while the Sales industry headed in the number of job postings. Thus, there is likely to be a slight difference between recruitment needs and labor supply in these two industries.
Besides that, three industries that have high growth rates in recruitment demand are Planning/Projects, Customer Service, Product/ Process with strong growth rates of 17%, 13% and 13%, respectively, according to the report.
