Reviewing the workforce

Although the labor market is forecast to improve from now until the end of the year as businesses boost production and business to serve people's consumption during the Tet holiday, there are some challenges related to labor supply and demand that authorities need to pay more attention to in order to have appropriate policies.

Firstly, there is a surplus of labor. Currently, the balance of labor supply and demand is out of phase with the direction of the recruitment needs of businesses and the job search needs of workers not meeting, specifically in terms of salary and occupation.

For example, in Ho Chi Minh City, the demand for human resources requires workers at many different levels of expertise, such as university degrees or higher at 22.85%, college degrees at 24.61%, intermediate degrees at 27.17%, but on the contrary, there are 76.94% of people with university degrees or higher looking for jobs, college degrees at 20.48%, intermediate degrees at only 1.89%.

This will put pressure on wages and the ability to find jobs of the youth workforce, so Ho Chi Minh City needs to focus on building vocational training and education policies to have a high-quality workforce.

Second, structural unemployment is increasing. In the field of labor - employment, this case occurs when the skills of workers do not match the needs of the market. At this time, it requires promoting vocational training policies, retraining workers and introducing them to other industries.

Third, the role of job referrals has not yet fully exploited its advantages. Ho Chi Minh City has many units performing this function, but in reality, in recent times, many workers have not yet accessed the information that state agencies have connected, many cases have fallen into job traps, labor fraud, etc. Therefore, Ho Chi Minh City needs to review its resources to better perform this function in the future.

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