The recovery of the Hanoi labor market
According to the report on the status and trends of implementing unemployment insurance policies in conjunction with job creation issued by the Hanoi Employment Service Center, in the period of 2021-2024, the number of unemployed people in the capital decreased by 83.7%.
According to the Hanoi Employment Service Center, this figure shows that the economic recovery does not stop at "creating jobs at all costs", but has really gone into depth in quality. Enterprises not only re-recruit but are also confident in their business prospects to give employees a full workload, ensuring working and collecting time.
This reflects the stability of orders, the recovery of the supply chain and the financial health of the business sector. In addition, it also reflects the situation of income and the standard of living of workers being improved more substantially. When there is no longer a shortage of jobs, workers have a more stable and adequate source of income, thereby improving the quality of life, increasing spending and contributing back to the overall growth of the economy, Mr. Vu Quang Thanh - Deputy Director of the Hanoi Employment Service Center - assessed.
The improvement of the job market is taking place strongly in rural areas - where seasonal shortages used to be an endemic problem of Hanoi City. The number of unemployed people in rural areas has decreased from nearly 29,000 in 2021 to only about 4,000 in 2024. This is a testament to the success of policies on economic restructuring and rural industry development, helping people "let go of agriculture without homeland".
New job numbers continue to grow
The Hanoi Employment Service Center said that the most comprehensive and important index reflecting the efforts of the entire political system and economy of the capital is the number of new jobs created annually.
The number of new jobs over the years has tended to grow continuously and stably. Even in 2023, when the economy faced many challenges and the number of unemployed people reached its peak, the job creation of Hanoi City still maintained growth momentum, showing great efforts and effectiveness of policies.
The number of more than 200,000 new jobs per year is extremely important. When compared with the number of unemployed people each year (the highest was 101,055 people in 2021), it can be seen that the capital's job creation capacity is always significantly greater than the number of unemployed people. This creates a safe "zone", ensuring that the market is not only capable of absorbing the entire unemployed workforce but also creates opportunities for tens of thousands of new workers to enter the market every year (new graduates, workers moving from other provinces and cities...)", said Mr. Vu Quang Thanh.
According to Mr. Thanh, this impressive scale of creativity is the result of many factors: The recovery and growth of the business sector, the improved investment and business environment, and the effectiveness of macroeconomic support policies.
