Vietnam’s labor market is showing signs of recovery thanks to a significant increase in labor demand, according to a report released Wednesday by online recruitment solution provider VietnamWorks.com.
VietnamWorks.com said in its Online Employment Indicator Report of the third quarter, the labor demand index of 50 industries in the July-September period rose 11.4 percent from the second quarter of 2009; and climbed 52.4 percent from the first quarter.
The report is a quarterly review tracked on www.vietnamworks.com that reflects labor supply and demand in specific job industries, levels, and in various regions throughout Vietnam.
Some 24 out of 50 industries tracked by the firm saw higher labor demand indexes while 21 industries remained unchanged.
Agriculture/forestry industry recorded the highest growth in the labor demand index, up 100 percent quarter-on-quarter while textiles and garments saw the sharpest fall in the period, down 25 percent quarter-on-quarter.
“Now that the market has begun to recover, companies are turning to their growth mode, and the labor market is heating up with more recruitment activities,” Chris Harvey, managing director of VietnamWorks.com said.
Agriculture and forestry also enjoyed the highest growth in labor supply of 20 percent over the April-June period. The construction industry saw from sharpest loss in labor supply, down 13.9 percent from the previous quarter.
Labor supply index of the third quarter slid 2.8 percent quarter-on-quarter but was still 6.2 percent higher than that of the first quarter of 2009.
Only seven out of 50 industries saw an increment in labor supply indexes, 19 others remained unchanged and the remaining 24 industries went down.
The rising trend of online labor demand for two consecutive quarters in 2009 and slowing online supply helped shorten the labor gap, generating less pressure on candidates in their job search, VietnamWorks.com said.
The report also revealed the lists of the top five industries with the highest labor supply and demand.
Sales led the report’s Top Five Demand by Industry with demand up 12.5 percent quarter-on-quarter, followed by accounting/finance, engineering, administrative/clerical, and IT-Software.
The Top Five Supply by Industry in the July-September period was the same as that of the previous quarter. All five industries recorded no increment in labor supply.
Meanwhile, a security was among the least five competitive industries in the quarter along with health care/medical, warehouse, legal and agriculture/forestry.
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