Vietnam unemployment falls in Q1

03 May 2022

Unemployment in Vietnam declined in Q1 by 130,000 to around 1.3 million from Q4 last year, reinforcing the post-pandemic recovery, according to the General Statistics Office (GSO).

The market is rallying thanks to the so-called “living with the virus” strategy and the successful vaccination drive throughout the country.

Those aged over 15 and over in employment hit 50 million in the first quarter, a rise of nearly 1 million quarter-on-quarter and over 130,000 year-on-year, reports The Star.

In addition, monthly income averaged 6.4 million VND over the period, a 1 million VND increase quarter-on-quarter and 110,000 VND year-on-year. The industry and construction sector registered the highest rate, at 7.3 VND million, the report adds.

According to the Deputy Director of the Hanoi Centre for Employment Services, Vu Quang Thanh, labour demand has been increasing since the beginning of the year, particularly in the electricity, electronics, shipping, trade, services, retail and wholesale sectors.

The Minister of Labour, Invalids and Social Affairs in Vietnam, Dao Ngoc Dung said that one of the main priorities in bolstering the country’s economic recovery is the revival and development of the labour market. The focus will remain on maintaining staff numbers in industrial parks and export-processing zones.

Furthermore, workers will also have access to soft loans stemming from the national fund on employment, the minister went on to add.

Around 3.4 million people will benefit from the Vietnamese government’s financial support policy to reduce housing costs for workers, according to Vu Trong Binh, head of the Ministry of Labour, Invalids and Social Affairs’ Department of Employment.