50% of jobseekers anticipate a monthly salary of $400 or less

50% of jobseekers anticipate a monthly salary of $400 or less

According to a survey conducted by the Ministry of Labor, Invalids and Social Affairs, nearly 50% of jobseekers in the current slumping economy anticipate monthly salaries ranging from VND5-10 million ($211-423). The survey also revealed that 12.5% of jobseekers aimed for middle-income salaries of VND15-21 million per month, while only 9.2% sought salaries exceeding VND21 million per month.

The Director of the Center for Strategic Forecasting and Analysis Information, Pham Ngoc Toan, attributed the increased number of jobseekers in the second quarter to economic difficulties. Due to intense competition for low-skill jobs, workers faced challenges in negotiating higher salaries. The most sought-after sectors for employment were real estate brokerage, garment, food and beverage, logistics, and insurance. Businesses, on the other hand, were primarily seeking accountants, administrators, IT engineers, and marketing agents. The sectors with the highest recruitment demands were IT and accounting, followed by finance, banking, and insurance.

High-skilled workers were in demand, accounting for over 27% of total recruitment needs. Additionally, half of the job openings targeted university graduates. However, many sectors experienced layoffs and reduced working hours in the first five months of the year. The garment sector alone witnessed around 70,000 job losses nationwide, while thousands of real estate brokers were also affected by the stagnant property market.

Pham Ngoc Toan predicted that businesses would continue to face challenges until 2023, particularly in the garment, construction, agriculture, and retail sectors. He emphasized that the labor market would only see positive signs when exports recover. In the first six months of the year, over 562,600 workers sought unemployment benefits, with the number of seekers in the second quarter being 1.7 times higher than in the first quarter.

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