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| A recent job fair in Hà Nội. — Photo thoibaonganhang.vn |
HÀ NỘI — The job market in Việt Nam is facing turbulent times. Vietnamese businesses are adopting a cautious approach to recruitment, particularly when it comes to hiring recent graduates and individuals lacking practical experience. This trend is emerging amidst ongoing layoffs across various sectors, raising important questions about the future of employment in the country.
A recent survey by Vieclam24h, conducted between May and June 2025, provides some troubling statistics. Out of nearly 3,000 businesses and employees surveyed, only 23.4 percent of employers indicated plans to hire fresh graduates and entry-level workers over the next six months. This figure signifies the lowest hiring intention across all employment tiers, painting a stark picture for newcomers to the job market.
The cautious stance towards hiring is not incidental. It is influenced by a complex interplay of global economic challenges, including trade tensions, supply chain disruptions, and rising inflation. These factors have collectively contributed to a climate of uncertainty, compelling businesses to reconsider their recruitment strategies.
Hiring young and inexperienced workers often translates to increased training costs and a higher risk of turnover—an investment that many companies are reluctant to make during uncertain times. Consequently, employers are directing their efforts towards filling official positions, specialized roles, and strategic departments, all while fresh talent remains largely sidelined, anxiously awaiting opportunities that may not materialize in the near future.
This trend is not unique to Việt Nam. Across several advanced economies—such as Japan, the UK, and the US—businesses are also scaling back on hiring young workers, often opting for candidates with experience who can meet immediate job demands. However, the Vietnamese labor market possesses unique characteristics, primarily its youthful workforce. With a significant number of young people entering the job market, the existing mismatch between employer expectations and candidate experience poses a risk of elevating local unemployment among recent graduates.
Adding to the challenges, Việt Nam’s labor market continues to see waves of layoffs, mirroring global trends and amplifying concerns about job stability. According to data from Vieclam24h, over 2,500 jobs were cut in the banking sector during the first half of the year, with the retail, manufacturing, real estate, and IT sectors also reporting similar layoffs. Alarmingly, about 62.3 percent of those impacted in Việt Nam were entry-level workers—individuals who typically have little or no prior experience.
In contrast, major economies often report lower job loss rates among entry-level workers, benefiting from robust vocational training programs closely aligned with business needs. This discrepancy raises critical questions about the integration of education and the labor market in Việt Nam.
Experts emphasize that Việt Nam’s challenges highlight a long-standing issue: the disconnect between educational institutions and labor market demands. While this mismatch is not a new phenomenon, it has become increasingly pronounced against the backdrop of current economic pressures. As the gap widens, the urgency for educational reform grows, demanding solutions that will better prepare young graduates for the reality of a competitive job market.