Businesses in HCMC enjoying positive signals of economic recovery

Many companies in HCMC reported an order increase, thus allowing overtime sessions among their workers for an income rise. They even plan to hire more laborers for next year’s operation.
Workers at Thanh Cong Garment and Textile Company in Tan Phu District, HCMC (Photo: SGGP)

Workers at Thanh Cong Garment and Textile Company in Tan Phu District, HCMC (Photo: SGGP)

34-year-old Ho Thi Kim Cuc from Binh Thuan Province, now living in Binh Tan District of HCMC, shared that she has been an employee in PouYuen Vietnam Co. Ltd. for over 9 years while her husband is a motorbike taxi driver for a living. From the end of 2022, due to a temporary halt in overtime sessions in her company, she could only receive VND8 million (US$327) per month. The couple’s earnings can only cover basic needs. Since September, she has been able to work overtime again, and the surplus money makes them more comfortable in life.

Similarly, 36-year-old Nguyen Van Mau from Tien Giang Province has been working in PouYuen Vietnam Co. Ltd. for more than 10 years. Due to his disease, he has to change to another department, leading to a salary drop to only around VND5 million ($205) a month. Lately, thanks to overtime working, his earnings have reached more than VND6 million ($245) per month. Small rise as it is, his income now helps him to afford disease treatment.

Formerly, Freetrend Industrial Vietnam Co. Ltd. (sited in Linh Trung 1 Export Processing Zone in Thu Duc City) had to rotate temporary days off work for their employees owing to fewer orders. At present, the normal operation and even overtime sessions can resume. Nguyen Thi Cuc from Ha Tinh Province, its worker for over 10 years, cannot contain her joy receiving the news. She appreciates these overtime sessions more than ever as they can allow her to increase her income to pay for daily expenses and the tuition of her two children.

In reality, many manual workers depend on both their base salary as well as overtime wage to pay for daily expenses. No matter how hard they have to work from early morning to late night, they still opt for overtime sessions in hope of living more comfortably.

Right now, several businesses in HCMC are planning to hire more laborers. Statistics from the HCMC Employment Service Center on 45 enterprises reveal that till the end of this year, there are more than 4,300 job openings in various fields of commerce, accounting and auditing, finance, securities, real estate, hospitality, footwear, garments, and unskilled work.

District 11 has just cooperated with the HCMC Employment Service Center to hold a job fair, attracting the participation of 25 businesses to offer nearly 1,500 job openings in many positions from manager to technician, manual worker.

Head Tran Thao Chi of the Recruitment and Training Department of Family Mart Co. Ltd. informed that until the end of 2023, her company hires 100-200 new employees each month for trading activities in HCMC, Ba Ria – Vung Tau Province, Binh Duong Province, and Dong Nai Province.

Le Thi Kim Lien from the HR Department of Cholimex Food JSC. also shared that her company needs 150 unskilled laborers for manufacturing activities at the end of the year. Next year, it will hire another 300 unskilled workers and 50 professional positions.

The HCMC Center for Human Resource Demand Forecasting and Labor Market Information (under the municipal Department of Labor, Invalids and Social Affairs) said that HCMC is entering its economic recovery time with businesses receiving more orders, and the labor market will enjoy even more positive changes in the last few months of the year. There are 75,500 – 81,500 job vacancies for the manufacturing peak to prepare for Tet holiday.

Director of the HCMC Department of Labor, Invalids and Social Affairs Le Van Thinh said that during the first 9 months of 2023, businesses in HCMC offered jobs for 242,000 people, including 107,000 new positions. 128,000 laborers resigned from their work and received unemployment support. In September, there was a drop in registration for this financial support by 28.4 percent after 6 consecutive months of increase.

Statistics from the HCMC Department of Labor, Invalids and Social Affairs on employment status in more than 2,500 businesses show that just over half of them can maintain operation in the third quarter of 2023 whereas 21 percent reported laborer layoff.

Therefore, this Department is going to implement measures to help both employees and employers to keep their current work status. It is planning to hold 12 job fairs, including 2 for the disabled and 1 online, to connect to 13 Mekong Delta provinces to introduce more job vacancies to those in need.

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