Nearly Half of Job Seekers in Hanoi Over 35: Structural Shifts in Vietnam's Labor Market

Hanoi's labor market report for August, released by the Hanoi Center for Employment Services, indicates that nearly 43,000 people are seeking employment in the city. Notably, individuals aged 35-54 constitute the largest segment of job seekers, accounting for 47% of the total. This trend highlights a significant structural shift in Vietnam's labor market. The high proportion of mid-career job seekers suggests a strong desire among workers to increase their income or pursue career advancement. This is often driven by corporate restructuring, the pursuit of more stable positions, better welfare benefits, and opportunities for promotion. The 25-34 age group follows, making up approximately 37% of job seekers. This demographic represents a core, dynamic labor force with 3-10 years of experience, showing a high propensity to switch jobs for better income and career development. Younger job seekers aged 15-24 account for 14%, primarily comprising recent graduates, interns, or those seeking part-time work. The segment aged 55 and above represents just over 2%, typically composed of senior experts, consultants, or individuals working part-time to stay active. The labor market is increasingly bifurcating between those with university degrees or higher and those without formal training. Approximately 36% of the labor supply holds formal qualifications, meeting the demand in sectors like services, technology, and management. Unskilled labor accounts for 28%, often filling roles that do not require specific qualifications, and exhibiting higher turnover or seasonal employment patterns. Regarding salary expectations, nearly 49% of job seekers are looking for salaries between 10-20 million VND (approximately $400-$800 USD), reflecting the expectations of professionals with degrees or significant experience. A further 43% seek 5-10 million VND, primarily for general labor, recent graduates, or basic administrative/service roles. Only 8% are targeting salaries above 20 million VND, typically managers or seasoned experts. The most competitive salary range for attracting a large pool of applicants is expected to be between 5-20 million VND. On the employer's side, recruitment demand is concentrated in wholesale, retail, and services, accounting for about 60%, followed by manufacturing and construction at 26%. Companies are actively seeking managers and mid-to-high-level professionals to optimize operational efficiency. Over half of the recruitment needs are for individuals with college degrees or higher, filling technical and core management positions. The demand for low-skilled, untrained labor has decreased to around 19%. The Hanoi Center for Employment Services forecasts that the market will remain dynamic, with increasing pressure for quality improvements. Sectors like wholesale, retail, and F&B will maintain high recruitment rates to serve the back-to-school season, the Mid-Autumn Festival, and year-end shopping promotions. Digital marketing and media will continue to attract young talent. Construction and infrastructure will see intensified competition for labor to support key projects. In August, Hanoi facilitated employment for nearly 20,000 workers. The center processed almost 8,500 unemployment benefit claims, disbursing approximately 325 billion VND (around $13 million USD), provided job search consultations to over 1,600 individuals, and supported vocational training for 108 people. Source: VnExpress