Nearly 1.1 mln people of working age unemployed

Dao Quang Vinh, director of the Institute of Labor, Science and Social Affairs, said that in the second quarter of the year, nearly 1.1 million working-age people were unemployed, an increase of 16.400 people compared to last quarter.

Mr. Vinh reported the figure at a meeting to announce the labor market and employment in the second quarter held by the Ministry of Labor, Invalids and Social Affairs on August 17 in Hanoi.

Among the one million were jobless, university graduates or those holding higher degrees accounted for highest rate. The unemployment rates of college and university graduates (college students who enroll in 3 year programs at educational institutes or four or five year program at educational universities) were 6.6 percent and 4 percent respectively.

Mr. Vinh said that the monthly salary of a labor in the second quarter was VND4.85 million while it was VND5.08 million in the first quarter. The rate of labor decreased in the second quarter compared to last quarter; the processing industry has seen the most drop of laborers with 61,000 people accounting for 10 percent.

The young employment rate aged 15 up reached 54.36 percent. It is forecast that in the last months of the year,  there will an increased demand of labors in some sectors namely construction, information and communications, finance, banking, social insurance and property sale; however, the number of working people in agriculture sector will fall drastically.

By Van Phuc – translated by Uyen Phuong

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