Over 1 million working-aged people were unemployed in the third quarter of 2016.

There were 1.1 million people unemployed in the labour age in the third quarter of 2016, increasing by 29,000 people compared to the same quarter last year, according to the latest Vietnam Labour Market Update by the Ministry of Labor, Invalids and Social Affairs (MoLISA). The report said that almost 82 per cent of the total job seekers have a degree or certificate.

MoLISA announced that the labor market had shown some positive changes in the third quarter. However, the economic growth hasn’t made more jobs but has included a decline in the paid workers’ portfolio and an increase in the unemployed portfolio. 

Among 1.1 million unemployed people, there were 456,000 people with technical skills. Of these, there were 202,000 people with a university degree, 112,000 people with vocational college skills and 73,000 people with vocational secondary school skills.

Regarding recruitment demand and job search, there were 24,400 job vacancies in the third quarter, up 7.7 per cent year-on-year. There were 71,600 job seekers in the third quarter, up 26 per cent year-on-year.

Eighty-two per cent of the total seekers have a degree or certificate, including accounting and auditing with 31.5 per cent, finance and banking with 11.7 per cent and unskilled workers with 10.9 per cent. However, the labor supply-demand is unbalanced in finance, banking and accounting-auditing. The number of people seeking jobs is higher than the number being recruited.

Regarding paid worker incomes, in the third quarter, the average monthly income of paid workers was VND4.93 million ($221), increasing 1.7 per cent equal to VND80,000 ($3.6) compared to the second quarter. Of these, real estate had the highest income, following by finance and banking, and insurance.

State sector had the highest average monthly income with VND6.54 million ($293), following by FDI sector with VND5.56 million ($249), and non-state sector with VND5.51 million ($247) and collective sector with the lowest income.

VN Economic Times