Workers in a garment factory in the southern An Giang Province. — VNA/VNS Photo Công Mạo

Although the employed population has increased, labour market quality has yet to improve with a large portion of informal workers, according to the General Statistics Office of Việt Nam (GSO).

As of the fourth quarter of 2023, the number of employed workers is 51.5 million, increasing by 130,400 people compared to the previous quarter and 414,600 compared to the same period last year, the GSO said in a recent report on the 2023 socio-economic situation.

The growth is attributed to increased production and business activities in response to Tết (Lunar New Year) holiday demands.

Việt Nam’s labour force (aged 15 and above) in 2023 counts for 52.4 million people. Among them, 51.3 million people are employed, an increase of 1.35 per cent compared to the previous year.

Most of them work in services (20.3 million people), followed by industrial sectors and construction (17.2 million people), and agriculture, forestry and fisheries (13.8 million people).

The country’s total population is estimated at 100.3 million, rising 0.84 per cent in comparison to 2022.

According to the GSO, the average monthly income in 2023 is VNĐ7.1 million (US$293), growing by VNĐ459,000 ($19) or 6.9 per cent year-on-year.

There is a wage gap between workers of different genders and in different locations, with men earning a monthly average of VNĐ8.1 million ($334) against VNĐ6 million ($247) for women.

The average monthly income for workers in urban areas is VNĐ8.7 million ($359), while this figure is VNĐ6.2 million ($256) in rural areas.

The GSO report also revealed that the average income per capita in 2023 is estimated at 4.95 million ($204) per person per month, increasing by 5.9 per cent compared to the previous year.

Illustrative image (internet)

According to surveys, 30.4 per cent of households were negatively impacted by hiking prices, while 4.6 per cent were affected by diseases.

As of Q4-2023, the number of unemployed people in the working age is 1.06 million, or 2.03 per cent of the country’s labour force.

Particularly, with efforts to carry out comprehensive measures to recover and develop the labour market, the unemployment rate in the southeastern region decreased by 0.41 percentage points to 2.67 per cent in Q4, said the GSO.

In HCM City, a municipality in the region and the largest economic hub of the country, the unemployment rate stands at 2.91 per cent, 0.78 percentage points lower than the previous quarter.

Illustrative image (internet)

Brief reports from localities also showed that the number of workers temporarily made redundant in Q4 also decreased, now standing at around 77,800 people.

Most of them worked in foreign-invested companies (72.6 per cent), and in footwear and textile businesses (respectively 45.7 per cent and 25.1 per cent).

Approximately 85,500 people lost their jobs in Q4-2023 (32,900 people less compared to the previous quarter and 32,100 less compared to the same period last year). A majority of them were working in the non-public sector (75.2 per cent) and in HCM City (28,100 people).