Positive developments were seen in Vietnam’s labour market in the third quarter of this year, the Institute of Labour Science and Social Affairs reported on December 26.

Young people seek vacancy information at a job fair

The country recorded a labour force of 53.77 million in the third quarter with an increase of 366,000 people or 0.69 percent compared to that of the second quarter.

About 496,900 people had been added to the labour force since last year’s third quarter, equal to an increase of 0.93 percent year on year.

The report also said that 31.9 percent of working people were in urban areas while the remainder were in rural areas.

During the last quarter, on average, a wage worker received 5.6 million VND (246.5 USD) monthly, 3.1 percent higher than that of the second quarter, and 8.8 percent higher than that of the same quarter last year.

However, the average income of female workers – 5 million VND – was still lower than that of their male counterparts – 5.63 million VND.

The third quarter of this year saw an unemployment rate of 2.21 percent with 1.074 million people unemployed.

As many as 237,000 people graduating from universities or higher education were unemployed, meaning the unemployment rate for this group was 4.51 percent, while the rate of the previous quarter was 3.63 percent.

More than 317,400 people received job consultancy last quarter. Nearly 50,000 people or about 25.5 percent of people receiving unemployment insurance were introduced to new jobs.

Nearly 11,000 unemployed people were assisted with job training.

Dao Quang Vinh, director general of the Institute of Labour Science and Social Affairs said that in the last quarter, Vietnam’s labour market would see more positive changes thanks to the outlook for the country’s socioeconomic development including economic growth for the last quarter of 2017 expected to reach 7.5-7.7 percent.

“More companies are expected to be established or resume operations, and export is expected to increase thanks to a better global economy. These could bring positive impacts to labour in some areas like processing, construction, logistics and real estate,” he said.

The institute forecasts that the country’s labour force will reach 53.9 million in the last quarter of this year. - VNA