Job Market 2022: Vietnam

In the era of Industry 4.0, the job market in Vietnam is witnessing significant growth and diversification. With the expanding economy, there is an increased demand for various types of jobs, catering to the diverse needs of job seekers. This report provides an overview of the job market in 2022, focusing on the perspective of job seekers. From the industry trends to the motivations behind job searches, we delve into the key insights that will help both employers and candidates navigate the dynamic job landscape.

Job Industry Overview:

• The job market in 2022 saw an upward trend in search traffic and job site traffic, particularly during the summer months of May to August. This period coincides with the peak time for students searching for jobs and internships.
• Notably, two professions experienced the highest growth in search volume in 2022: data analyst (63%) and content creator (40%). They were closely followed by digital marketing (36%) and business analyst (21%). The diverse interests of different target groups, including job seekers, graduating students, and individuals seeking career changes, contribute to the increased activity on job sites.

Understanding Job Seekers:

• A survey conducted reveals that nearly 60% of respondents who are currently looking for a job are also currently employed. Among them, freelance work (28.1%) emerged as the most searched type of work, followed by part-time positions (19.3%). However, there has been a noticeable rise in the popularity of hybrid work arrangements, reflecting the changing preferences among workers.
• The post-COVID-19 period has seen a continued increase in search volume for freelance and remote work, suggesting that the pandemic has influenced workers’ perceptions and preferences regarding job types. Furthermore, there has been a significant surge in the search for internships compared to previous years, indicating the importance of gaining practical experience.
• In 2022, overall search volume on recruitment sites recorded a growth of 32%. Employees primarily utilize social networks and recruitment sites for job searches, while interns rely on a combination of social networks and personal connections. When asked about the channels they used to find their current or last job, 14.4% reported utilizing job boards.

Reasons for Job Searching:

• The increasing number of job searches in recent years can be attributed to several factors. The most common reason cited is the lack of opportunities for career development in current positions (32.5%), followed by the desire for higher salaries and better benefits (29.4%). However, the motivations for job searching vary across different age groups.
• The data indicates that individuals with lower incomes have a relatively lower propensity to seek alternative employment opportunities (less than 20%). This rate gradually increases with higher income levels. Moreover, more than 60% of workers express an intention to look for jobs outside of their primary occupation.
• The trend of job searching remains stable throughout 2021 and is expected to peak in the summer months of 2022. The need to find employment varies significantly across age groups and education levels. Nevertheless, salary and bonuses, welfare programs, and the working environment continue to be key concerns for workers across all age groups.

In conclusion, the job market in Vietnam is experiencing significant growth and diversification in the era of Industry 4.0. As the economy expands, new job opportunities are emerging, catering to the diverse needs of job seekers. The insights from this report shed light on the current trends and preferences of candidates in their job search process.

Key Points:

Job Industry Overview:

1. Data analyst and content creator were the professions with the highest growth in search volume.
2. Digital marketing and business analyst also witnessed significant search volume increases.
3. The summer months were particularly active for job seekers, especially students.

Understanding Job Seekers:

1. Many job seekers are currently employed but actively searching for new opportunities.
2. Freelance work and part-time positions are popular, with a rising interest in hybrid work arrangements.
3. The search for internships has increased noticeably compared to previous years.

Reasons for Job Searching:

1. Lack of career development opportunities is a common reason for seeking new jobs.
2. Higher salaries and better benefits are desired by job seekers.
3. Motivations for job searching vary across different age groups.

For further support and assistance in navigating the Vietnamese job market, please contact our dedicated team in Vietnam.