According to a report by the General Statistics Office (GSO), the average per capita monthly income for Vietnamese citizens increased by 16 per cent to VND6.7 million ($284) in 2022.

The report, released on Tuesday, also showed that the average monthly income for workers in all three economic sectors grew.

The growth rate was the highest in the industrial and construction sector with 17.6 per cent, followed by the services sector (15.4 per cent) and the agriculture, forestry and fishery sectors (9.8 per cent).

Vietnam’s labour market continued to recover in 2022. However, challenges will remain until the second quarter of this year due to decreasing global demand, said the report.

In 2022, the full-year average jobless figure stood at 1.07 million, a decrease of 359,200 compared to 2021. The unemployment rate fell 0.88 percentage points to an annual average of 2.32 per cent.

Normally, year-end is a period with high demand for labour as businesses need to meet order requirements and fulfil business plans for the whole year. However, in the final months of 2022, amid fluctuations in international and local markets, some businesses, especially those in the garment, textiles, footwear and wood processing sectors, witnessed a decline in orders, leading to a reduction in jobs, the office said.

In the fourth quarter of 2022 alone, more than 1.08 million were unemployed, about 24,900 more than in the third quarter. The unemployment rate in the fourth quarter of last year was recorded at 2.32 per cent, up 0.04 percentage points compared to the previous quarter.

It forecasted that with continued complex developments in the global and domestic situation, businesses would continue to encounter difficulties and witness declining demand until the second quarter of this year, leading to job loss and workers’ income is affected. 

Source: Vietnam News