Hanoi's strong growth in the manufacturing, tourism, real estate and retail sectors is paving the way for a socio-economic landscape in the city has been essential for the continued recovery and growth of the city's labor market.

The labor market is poised to continue its upward trajectory with the city's commitment to streamline public investment procedures and boost FDI, as highlighted by the Hanoi Center for Employment Service's forecast.

Certain industries are expected to see a surge in hiring, with employment in wholesale and retail trade expected to increase by 4% month-over-month, manufacturing and processing by 3.5%, and real estate by 2.5%.

Real estate sector poised for hiring surge

The Hanoi Center for Employment Service hosts numerous job fairs this month. Photos: Tran Oanh/ The Hanoi Times

The latest report from the Hanoi Center for Employment Service revealed that the real estate sector is showing vibrant signs of recovery. As investor confidence returns, demand in the market is heating up, and companies are eager to attract professionals with in-depth knowledge and specialized skills in real estate.

"Hiring team members with a solid understanding of the real estate landscape, relevant regulations, and strong communication skills is critical to facilitating successful transactions and enhancing a firm's reputation," the center emphasized.

From project oversight to customer service, technology is becoming indispensable. Companies are looking for technology experts to develop innovative solutions, including property management software and mobile apps, to streamline processes and enhance the customer experience.

"Equally important is the focus on outstanding customer service. By hiring individuals who are good communicators and adept at customer care, companies can cultivate lasting relationships and maximize customer satisfaction," the center said. Furthermore, the demand for sales and marketing expertise is rising within real estate firms. 

The Hanoi Center for Employment Service promotes job fairs to support recruitment and job seekers.

The center said local companies need talented sales and marketing professionals, as well as professional real estate consultants who play a key role in guiding clients through the buying and leasing process.

Meanwhile, some sectors may see a downturn in hiring, including scientific and technical services, which could see a decline of about 0.8%; finance, banking, and insurance, which is expected to decline by 0.5%; and administrative and support services, which could see a drop of about 0.4%.

Vu Quang Thanh, deputy director of the Hanoi Employment Service Center, said that to promote the recovery of the labor market and ensure social welfare in these challenging times, they are trying to create a robust network for collecting, processing and disseminating labor market information throughout the city and to local communities.

The center will also strengthen online job exchange activities, use technology to improve connections between labor supply and demand and improve the effectiveness of job platforms and satellite offices. It will also systematically organize specialized job fairs and mobile job events to reach a wider audience, the deputy director told Lao dong Thu do newspaper.

Growing hiring demand across diverse sectors

Hanoi strengthens ties between vocational schools and employment centers to create job opportunities through holding job fairs.

In addition to the real estate boom, a number of other industries are experiencing significant growth, leading to a surge in recruitment needs, according to the Hanoi Center for Employment Service report.

Companies were looking to fill more than 40,600 vacancies in August, with wholesale and retail trade and miscellaneous services accounting for more than 46% of total demand. Hot on their heels were manufacturing and construction, as well as education and training.

The center also reported that more than 25,100 people were actively looking for work in August, mostly from the unskilled labor force, representing 39% of job seekers. Many were focused on production and sales positions.

They were followed by those with a college degree or higher, who made up 32% of the job-seeking population and were primarily interested in opportunities in office administration, accounting, and technical fields.