Strong job growth predicted for Q2: labor ministry
According to the Ministry of Labor, Invalids and Social Affairs, three industry groups are expected to see an increase in labor demand compared to the previous quarter.
The second quarter of this year is expected to see a boom in employment, with the Ministry of Labor, Invalids and Social Affairs forecasting a total workforce of 51.5 million, an increase of 200,000 on the previous period.
| Hanoi hosts many job fairs each year to bring employers and jobseekers together. Photo: Nguyen Hai/ The Hanoi Times |
Three industry groups are forecast to see an increase in labour demand compared with the previous quarter, including furniture (up 2.6 %), textiles and textile products (up 2.0 %), and electronics, computer and optical products (up 1.6 %).
There are three industries where labor demand is predicted to fall in the second quarter, including printing and reproduction of recorded media (-3.8%), other mining and quarrying (-3.1%), and rubber and plastic products (-1.5%).
The ministry also reported on the labor market in the first quarter of 2024, with 52.4 million people in employment, an increase of 175,800 compared to the first quarter of 2023.
In the first quarter of 2024, the number of employed people reached 51.3 million, about 174,100 more than in the previous quarter, the agency added. The average income of workers continues to improve, reaching VND8.5 million ($314.8) per month, an increase of VND606,000 ($23.8) compared to the first quarter of 2023, it reported.
Occupations with increased employment include accommodation and food services (up 137,000), manufacturing (up 61,000), political and social organisations, public administration, defence and security (up 55,000), education (up 50,000) and transport and storage (up 29,000).
The report also shows that there were five sectors where employment fell: construction, agriculture, forestry and fishing, wholesale and retail trade, repair of motor vehicles and motorcycles, information and communication, and real estate.
The ministry also reported that 50.5% of all employers require workers with a university degree or higher, another 44% require a college or vocational degree, and the remaining 5.5% require a primary degree or no technical qualifications. Meanwhile, 44.1% of jobseekers have a university degree or higher, 17.4% have a college or vocational degree, and 38.5% have no degree or certificate.
In terms of job vacancies, 67.3% of enterprises have a demand for labourers, a further 14.8% for middle managers and 8.5% for temporary jobs. On the other hand, some 56.9% of jobseekers are looking for non-executive positions, 28.2% for middle management and 4.9% for temporary jobs.
Companies offer different salary ranges according to the qualifications and skills of candidates: under VND5 million ($196.7) per month, VND5-10 million ($196.7-$392.2) per month, VND10-15 million ($392.2-$588.4) per month, VND15-21 million ($588.4-$823.7) per month, and over VND21 million ($823.7) per month.
