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Saturday, June 15, 2024

Hanoi’s labor market outlook still uncertain

The Saigon Times

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HCMC – Hanoi’s labor market remains unstable though there were signs of recovery early this year, according to the city’s Labor Federation.

Since September, several businesses have been struggling with the sharp falls in new orders from foreign customers, so they have cut jobs.

Le Dinh Hung, vice chairman of the Hanoi Labor Federation, said that global economic and geopolitical uncertainties have adversely affected local businesses, which in turn have impacted employment and worker pay.

The labor market showed signs of recovery early this year, but the situation has deteriorated since September, particularly in industries like textiles, leather, and electronics, causing a surge in layoffs.

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