A recent survey by Ho Chi Minh City’s Centre of Forecasting Manpower Needs and Labor Market Information (Falmi) has revealed that Vietnam’s capital is currently facing a huge shortage of workers. It was reported that the city will require about 310,000 additional workers this year.
According to the VN Express, the city’s labor market is now faced with two scenarios, both of which are dependent on how the Covid-19 situation develops in the country.
Should the pandemic situation be brought under control, the city will have to recruit between 280,000 and 310,000 additional workers. The demand for human resources in the first quarter would be nearly 87,000, second quarter over 72,000, third quarter 74,000, and fourth quarter, 77,000.
However, if the Covid-19 situation remain difficult, the city expects demand for labor to drop down to about 225,000 to 280,000. Most of this demand would be expected to be towards the first three months of 2022.
Of all market sectors, it is the city’s trade and service sectors which has seen the greatest increase in workforce demand for 2022. The sectors make up at least 66 percent of total demand and includes industries such as commerce, transportation and warehousing, accommodation, catering and more.
On the other hand, recruitment demand for the construction and industrial sectors accounted for over 33 percent. These included areas such as food processing, pharmaceuticals, and beverages.
For the most part, the survey stated that the majority of these job demands did not require potential candidates to hold a college degree. Considering that the Falmi report also mentioned that the city produces approximately 500,000 students and graduates on average per year, it is entirely possible that the city will be able to meet the expected demand.