Year-end labour market predicted to witness bright spots

In the first nine months of 2023, 51.2 million people nationwide have been employed, an increase of 776,000 labourers year on year, according to the latest statistics of the General Statistics Office.

Among those, the urban area has 19 million labourers, and rural areas have 32.2 million workers.

According to the Ministry of Labour, Invalids and Social Affairs, the number of employed people in the third quarter of 2023 continued to increase compared to the previous quarter and the same period last year.

The wave of switching or leaving jobs recorded since the fourth quarter of 2022 has decreased sharply.

The ministry said over the past nine months, the increasing industrial production index and total retail sales of goods and consumer service revenue have created jobs for many employees.

The number of newly-established and operational resuming businesses is higher than those withdrawing from the market; as a result, more jobs have been offered, the ministry said.

In nine months, there are more than 111,500 Vietnamese people working abroad, exceeding 101.37 per cent of the yearly plan.

A job fair at HCM City University of Technology. — VNA/VNS Photo Thanh Vũ

According to Hà Nội Employment Service Centre, in the third quarter, the city’s labour market continued to maintain growth momentum. Recruitment demand focuses on trade, service, construction, and industry.

Vũ Quang Thành, the centre’s deputy director, said it can be seen at job transaction sessions that the labour market at the end of the year showed many signs of improvement.

Both the number of businesses participating in job transactions and their recruitment needs have increased significantly. Job targets and positions are diverse in different fields of work, he said.

From now until the end of the year, major holidays such as Christmas, New Year and Tết (Lunar New Year) will have positive impacts on recruitment trends, especially for part-time candidates, he told VOV.

He said the city is in need of recruiting 35,000 - 45,000 workers in the fourth quarter. Recruitment demand continues to focus on trade, services and production. There is especially high recruitment demand in the manufacturing sector as businesses need to recruit thousands of workers for year-end production to keep up with deadlines.

In the first ten months of the year, local authorities created jobs for 186,000 workers, reaching 114.9 per cent of the yearly plan. During the cited period, the Hà Nội Employment Service Centre organised 215 job transaction sessions, attracting 7,000 businesses with over 15,000 workers recruited right at the sessions.

“The increase in the number of newly established businesses reflects positive prospects for the labour market,” Thành said.

In November, the centre will organise two thematic sessions for disabled workers and Vietnamese workers returning from overseas. In December, it will coordinate with the Capital Command to organise a job transaction session for retired soldiers.

Associate Professor Đinh Trọng Thịnh from the Academy of Finance said the labour market in the last months of the year has shown signs of recovery with more people offered jobs.

As businesses are moving forward with digital and technology transformation to increase competitiveness and flexibly adapt to difficulties, market pressures and customer needs, there is a high demand for the capacity and technical expertise of personnel, especially those owning university degrees or higher, he said.

To meet the demand, workers need to actively hone their skills, learn and accumulate experience, he added.