Cambodia forecasts employment surge to 10.2 million by 2026
Based on predicted future labour growth rates of 2.5% per year, Cambodia is expected to see up to 10.2 million employed people in 2026, according to the Ministry of Labour and Vocational Training.
In a recent report, the ministry said economic growth is expected to reach around 6.6% in 2024, with more than 220,000 jobs to be created. This is an increase of 2.3% more than the year before. Between 2024 and 2026, approximately 235,000 jobs are projected to be created each year, an increase of around 2.5% per year, totalling around a predicted 10.2 million employed people in 2026.
The sectors expected to see the highest growth rates include hospitality and tourism, construction, industry, retail, transportation, telecommunications, and manufacturing. The jobs that will be in high demand are expected to be in specialised manufacturing and service roles.
Employers are looking for employees who are proficient in both English and Chinese, as well as equipped with technical skills, communications, operation management and customer service.
Heng Sour, Minister of Labour and Vocational Training, has unveiled a ten-point plan to increase the employment numbers in Cambodia, contributing to upskilling the existing labour force and new graduates to make them viable for hiring.
This prediction of increased employment numbers is viable if economic growth achieves the projected figures, said Hong Vanak, an economics researcher at the Royal Academy of Cambodia. However, this would be dependent on high-level, flexible planning amid an uncertain global economy.
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“The global economic situation is not certain. What we can do is strengthen ourselves and be prepared to be flexible. We will need to be adaptable and prepared to respond to changes,” Vanak cautioned. He urged students to focus on acquiring skills that employers would need and recommended that they take advantage of the vocational training provided by the Cambodian government, reported The Phnom Penh Post.
