Businesses increase employment for expansion

Companies in Vietnam are raising their staff numbers to support their business expansion plans to cash in on the recovery of the country’s economy this year, according to VietnamWorks.com.

The strong employment growth and more business confidence are indicated in the Online Employment Indicator Report of the second quarter of the year which the largest online recruitment solution provider in Vietnam has just released. The report also showed a significant rise in labor supply in the period.

The online job market in the second quarter expanded 28% in demand and 27% in supply over the first quarter, according to the online employment index tracked on VietnamWorks.com. The demand soared 40% if compared to the same period last year.

“The labor demand grown 40% year over year was a good sign of economy upturn,” said Chris Harvey, general director of VietnamWorks.com. “Employers now are more confident in hiring more people to expand their business.”

Civil construction, accounting/auditing, banking, electrical/electronics and mechanical were in the top five industries in terms of demand in April-June. This period saw mechanical appear in the list for the first time, replacing airlines/tourism/hotel.

The labor demand for mechanical and electrical/electronics in the April-June period jumped 47% and 41% respectively quarter-on-quarter. Accounting/auditing and banking climbed 35% and civil construction up 30% compared to the first period.

On the labor supply side, the top five industries were banking, accounting/auditing, electrical/electronics, civil construction and mechanical. All these industries registered an increase compared to last quarter.

The second quarter was a good time for employers who had demand for manpower in financial services. The report unveiled the accounting/finance function and banking and accounting/auditing industries offered the highest supply for the labor market.

Banking and accounting/auditing were the two industries with the biggest demand-supply gap and highest labor supply in the online labor market with 40% and 68% rise respectively.

Hanoi continued leading the online labor market in terms of demand and was 10% higher than HCMC in the second quarter. But, the southern economic center of Vietnam was gradually narrowing the gap in online labor demand with Hanoi, from 24% in the second quarter, 18% in the third quarter and 17% in the fourth quarter of 2009, and 14% in the first quarter and 10% in the second quarter of this year.

Tags: Vietnam business