3 main impacts on the Hanoi labor market in Q3/2026

The Hanoi Labor Market Update Bulletin No. 45-Q3/2026 newly issued by the Hanoi Employment Service Center shows that there are 3 main impacts on the Capital's labor market in Q3/2026.

Construction – strong infrastructure growth

According to the Hanoi Employment Service Center, state budget capital managed by the locality in the third quarter reached 52,000 billion VND, 2 times higher than the same period.

Ring Road 4 projects, bridges over the Red River, Olympic sports urban area... create great competitive pressure in recruiting engineers and construction machine operators.

Business screening process continues

There were up to 4,077 enterprises dissolved in the quarter, of which September alone increased by 63%. Textiles and garments (adult clothing only equals 63.6% of the same period), wooden furniture and motor vehicles under pressure, causing local surplus labor.

Increased skill gap

In the third quarter, 68% of recruitment demand required intermediate level or higher, but the supply only met 49%. The occupancy rate at the new job transaction session reached 5.5%.

In general, in the first 9 months of the year, the index of industrial labor use increased by 9% but the number of workers remained almost unchanged. Meanwhile, the number of people with decisions to receive unemployment benefits in the first 9 months of the year increased by 37.3% compared to the same period.

Hanoi Employment Service Center said that in the third quarter, regarding increased recruitment demand: Construction and infrastructure increased by 13.63%; accommodation and catering increased by 21.2%; electronics and computers increased by 20.6%.

3 industries under the greatest screening pressure: Textiles - adult clothing decreased by 36.4% of personnel; beds, cabinets, tables, chairs decreased by 4.3% of personnel; non-state sector decreased by 2.2% of personnel.

Compared to the second quarter, the pressure of personnel screening has increased significantly. However, the number of applications for unemployment benefits decreased by 3.5%, showing that the impact of the early year's restructuring has passed its peak, and the impact of the September 2026 dissolution wave is expected to be shown in the fourth quarter of 2026. In the third quarter, growth spread to employment through 2 labor-intensive channels, construction and consumer services, while industry increased output but almost did not increase labor," said a representative of the Hanoi Employment Service Center.

See the original here