77% of jobseekers hold university degrees: HCMC survey

Although bachelor’s degree holders account for the majority of jobseekers, the number of jobs requiring such degree was only 23% of total, said the survey by the HCMC Human Resources Forecast and Labour Market Information (Falmi).

The survey polled 14,500 businesses and 32,300 jobseekers in the city in the third quarter.

More than one-fifth of jobseekers held a college diploma, and the number of jobs that required this level of education accounted for 24.6%, implying that there was no major difference between recruitment supply and demand.

Up to 13.5% of recruitments were for blue-collar workers, but only 0.5% of jobseekers were in this category.

Falmi deputy director Do Thanh Van said that university degree holders are having more trouble looking for jobs because there is a gap between jobseekers’ and employers’ expectations of salary and capability.

The survey found that over 40% of jobseekers expect a monthly pay of over VND20 million (US$820), but only 15% of jobs offer this salary, indicating that there will be high competition in this salary range.

"Companies now are looking for people who have vocational experience and can start work right away, and they also keep a tight budget for compensation, which explains why university graduates have difficulties finding jobs," Van said.

Another survey by the HCMC Employment Service Center earlier in the year found that 36% of unemployed people had a university degree, and just over half did not hold any degree.