The information technology (IT) labor market is still hot as it lacks workers with high qualifications, especially ones majoring in aritificial intelligence (AI), data and information security.

In June alone, economic sectors in the city employed more than 26,500 labourers and created nearly 12,000 new jobs, with most jobs in the areas of trade, services, and industrial production.

Due to a significant decline in new orders since the fourth quarter of last year, hundreds of thousands of employees across the country have faced job losses and reduced working hours, according to the General Statistics Office (GSO).

Going to university is no longer the top priority for high school graduates. They would rather work abroad than obtain a higher education and be jobless.

The number of people losing jobs or having fewer working hours is believed to be higher than reported. They need financial support and jobs to overcome current difficulties.

Ten groups of occupations are recording a sharp fall in recruitment demand, and the unemployment rate may increase in the time ahead, said recruiting service provider Navigos Group.

Layoffs could run until the end of 2023 as firms continue to trim their ranks in line with slumping global demand, experts have said.

Besides limited technological capability, Vietnamese mechanical engineering enterprises are upset about their trained workers leaving for foreign-invested companies or searching for opportunities to work abroad in labor cooperation programs.

Occupations relating to information technology, high-tech and supporting industries are employment groups with high recruitment demand, experts have said.

The labour market in Vietnam is enduring a transformation, with a focus on constructing a sustainable and efficient supply chain of workers.

According to the Ho Chi Minh City Center of Forecasting Manpower Needs and Labor Market Information , the labor market will head towards high-quality and skilled human resources.

Vietnam’s labour market continued to maintain its recovery momentum in Q1/2023.

Many Vietnamese firms are going through rounds of layoffs as the global economic downturn shows no sign of abating since starting last year.

Citing low income as one of the reasons behind the brain drain from the public to the private sector, the Ministry of Health (MOH) believes this is causing problems in the health sector.

Foreign-invested enterprises look set to struggle this year, particularly in garments, textiles, and footwear, as exports continue to fall and more workers are laid off.

Le Thi Hien, a migrant worker in Ho Chi Minh City, lost her job after more than 15 years working at a local leather footwear company.

IT talent shortages are not a huge issue in Vietnam, at least currently and in the near future, according to a fresh report, Salary & Job Expectation of IT Professionals 2022-2023 by ITviec, a site for IT recruitment in Vietnam.

For the first time in many years, the starting salary of new graduates from Vietnamese universities and overseas universities is the same (443.5 USD, per month), according to the Talent-Mercer Total Remuneration Survey (TRS) 2022.