Workforce forecast to increase in third quarter

It is forecast that Vietnam’s total workforce will near 54.26 million people in the third quarter of this year, up 0.44% from the previous quarter and 0.91% annually. Several sectors need more workers, including beverages, weaving, printing, rubber, plastics and water drainage. Fewer labourers will be seen in agro-forestry-fisheries, crude oil and natural fuel, mining, automobiles and furniture manufacturing.

During a seminar on the Vietnamese labor market held by the Ministry of Labour - Invalids and Social Affairs (MOLISA) on September 18, Director of the Institute of Labor and Social Affairs Dao Quang Vinh said in the second quarter, there were more than 54 million employees, up some 1% year-on-year.

The biggest decrease in employment was seen in agro-forestry-fisheries with nearly 180,000 jobs gone, followed by manufacturing and processing, financial-banking, administrative and support services. Meanwhile, retail and wholesale, automobile repair, construction and education-training sectors hired more workers. The unemployment rate nationwide fell but that among youths rose considerably by more than 511,000 people.

Mr. Dao Quang Vinh said the rate of young jobless people in Asia was 10%, or even 20-30% in several countries. In Vietnam, the rate was 7%, lower than the average. Also during the second quarter, income in almost sectors dropped slightly from the first quarter, except construction and entertainment. Mining and manufacturing and processing sectors offered lower salaries. Paid workers with bachelor’s degrees earned the most, about 7.87 million VND each month. Up to 16.5% of paid workers were in the low-income group, while 52.8% were manual labors.