LABOUR MARKET POSTS SIGNS OF RECOVERY IN Q3

More jobs were created in the third quarter of this year on the back of the country’s economic resurgence, a press conference held by the General Statistics Office (GSO) on October 6 heard.

More jobs were created in the third quarter of this year on the back of the country’s economic resurgence, a press conference held by the General Statistics Office (GSO) on October 6 heard.

The workforce in the quarter totalled 54.6 million people aged 15 or above, an increase of 1.4 million against the second quarter but a decline of 1.1 million compared to the third quarter of 2019.

The number of employed labourers IN Q3 was up 1.5 million from Q2, with most new jobs in the informal economic sector.

Monthly incomes averaged 5.5 million VND (237.7 USD), up 258,000 VND against Q2 but down 115,000 VND against Q3 2019.

While the labour market showed signs of improvement after hitting record lows in the second quarter, more work must be done to create more jobs and achieve full employment, according to the GSO.

From January to September, 31.8 million people aged 15 and above were adversely affected by the COVID-19 pandemic, either becoming jobless or having their working hours and salaries seriously slashed.

The service sector was hardest hit, with 68.9 percent of workers clobbered by the outbreak, followed by industry and construction, with 66.4 percent of workers affected. The rate in the agriculture, forestry, and fisheries sector was 27 percent.

Director of the GSO’s Population and Labour Statistics Department, Vu Thi Thu Thuy, said the pandemic may have taken away the opportunity for some 1.8 million people to join the labour market.

Source: VIR