(Source: Viet Nam Social Security)

The Ministry of Labour, Invalids and Social Affairs partnered with the General Statistics Office to release a report on Vietnam’s labour market in the third quarter of 2017 at a workshop on December 26.

Speaking at the event, Director of the Institute of Labour Science and Social Affairs Dao Quang Vinh said the economy prospered in the third quarter of 2017, posting record growth of 7.5 percent. Strong economic sectors like manufacturing, aquaculture and services all boosted the labour market in the period. Employment expanded in industry and services, reducing the unemployment rate while manufacturing, construction and services also saw strong workforce growth. Workers’ wages also rose.

The number of employed people was estimated at 53.77 million in the third quarter of 2017, up 0.69 percent, or 365,900 people, from the previous quarter, and 0.93 percent, or 496,900 people, over the same period last year. Urban areas accounted for 31.9 percent of total employment, a slight increase quarter-on-quarter and year-on-year.

The number of employed-for-wage employees stood at 22.92 million people in the third quarter, slightly up from 22.84 million in the previous quarter but the rate of paid workers reduced from 42.77 percent to 42.62 percent.

The average monthly wage of paid workers in the third quarter rose by 3.1 percent, or 162,000 VND, to 5.36 million VND compared to the second quarter, and gained 8.8 percent, or 434,000 VND, year on year. The average monthly wage of paid employees varied by gender with that of male (5.63 million VND) higher than female (5 million VND).

Vietnam had more than 1.07 million unemployed people at working age in the third quarter, down 6,800 from the previous quarter and 42,900 year on year. As a result, the unemployment rate at working age declined by 2.21 percent. Meanwhile, the number of graduates without jobs hit 237,000, an increase ò 53,900 compared to the second quarter.

During the period, more than 317,400 people were provided with job consultations; of whom more than 49,200 were employed, accounting for 25.5 percent of people granted with unemployment allowances.

The number of unemployed people provided with vocational training support was nearly 11,000, representing 5.7 percent of people on unemployment allowance. Some 177 people yet to be eligible for unemployment allowance received vocational training.

Employment in the last quarter of 2017 was forecast to grow to 53.9 million people, particularly in industries like manufacturing and processing (up 139,000), construction (up 136,000), transport and logistics (up 61,000) and real estate (up 47,000).

International Cooperation Department