Job market shows strong signs of recovery

The labour market has been steadily recovering since early in the year, according to data from Adecco Vietnam, with the number of job openings in March rising 40% against January. Growth in job applications was 26%.

Sectors seeing an increase in hiring demand in the quarter included Engineering and Manufacturing, Energy, IT, E-commerce, Electronics, Semiconductor Design, Civil Engineering, and Industrial Construction.

The combination of global supply chain shifts and the positive impact of free trade agreements will offer new prospects for Vietnam’s economy into the future, leading to a significant increase in employment opportunities and hiring demand, said Nguyen Thi Thu Phuong, Adecco Hanoi’s Recruitment Manager.

In Ho Chi Minh City, the labour market in Q1 was livelier than in the same period last year, according to the municipal Centre for Human Resources Forecasting and Labour Market Information (FALMI).

Its figures show that there were over 44,000 job vacancies and nearly 19,500 jobseekers in the southern economic hub during the period, increasing local human resources demand by 13.14% year-on-year. The majority of vacancies (70.38%) were in the services sector, followed by industry (29.51%) and agriculture (0.11%).

The centre forecasts that the city will need between 68,600 and 73,500 workers, mostly in the fields of IT, electronics and electricity; mechanics and automation; healthcare and medicine; accounting and auditing; finance, banking and securities; real estate; and tourism, lodging and catering services.

Adecco Hanoi Office Director Nguyen Thu Ha explained three main reasons contributing to the current situation. The first is the Government’s successful efforts in virus prevention and containment, she said. Second, businesses have gradually ramped up their operations and are eager to bounce back after a period of economic stagnation. Third, in terms of psychology, people now are better able to take care their health and cope with coronavirus anxiety.

FALMI said that demand for trained workers in HCM City made up 85.72% of the total, including 22.19% for university graduates or higher.

Commenting on the labour market outlook for 2021, Andree Mangels, General Director, Adecco Vietnam believed that the recovery of the economy and the global trends of digitalisation will open up opportunities for skilled workers.

A recent survey from the Adecco Group on shifts in workplace expectations in the post-pandemic world indicate that 82% of participants appreciate the strict hygiene regulations at work.

Other noticeable expectations among workers are flexibility (80%), adequate facilities for remote working (79%), investment in technology (77%), financial support policies (77%), and regular updates on business plans and performance (75%).