Workshop for launching: Vietnam Labor Market Update No. 14, Q2 / 2017

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On the afternoon of September 15, 1977, at the meeting hall of the Institute of Labor Science and Social Affairs, the Ministry of Labor, Invalids and Social Affairs held a workshop announcing “Vietnam Labor Market Update Newsletter 14 , quarter 2/2017 ”
The workshop was chaired by Mr. Dao Quang Vinh, Director of Institute of Labor Science and Social Affairs, Head of Editorial Board and Mrs. Chu Thi Lan, Director of Research Center for Environment and Labor Conditions , member of the Editorial Board.
Attending the workshop included representatives of ministries, social organizations, research institutes, universities, Hanoi Department of Labor, War Invalids and Social Affairs and a large number of press agencies in the country.

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Speaking at the workshop, Director Dao Quang Vinh said that the socio-economic situation in our country in the first 6 months of 2017 has made positive changes. Outstanding results are in improving the business environment, exports, attracting foreign investors. Gross domestic product (GDP) in the first 6 months of 2017 is estimated to increase 5.73% over the same period of the last year, of which the first quarter increased 5.15%; The second quarter was better than the first quarter with a growth rate of 6.17%. In this context, the labor market in quarter 2/2017 has changed but there is no breakthrough.

The overall picture of labor market developments in Quarter 2/2017 is as follows:

– The quality of labor supply has been improved, but still at a slower pace. Quarter 2/2017, the rate of trained workers with certificates of 3 months or more accounted for only 21.6% of labor force. In the number of workers with certificates, the primary and secondary vocational groups grew faster.

– The number of employed people increased comparing to the previous quarter and the same period in 2016. The business environment continued to improve, the number of newly-established enterprises continued to increase rapidly, contributing to the shift of labor structure. The proportion of wage workers increased comparing to the previous quarter, reaching 42.77%; The number of non-state employees was 6.21 million, up from the previous quarter. The income of wage laborers decreased compared to the previous quarter (due to seasonality after Lunar New Year), but still increased by 7.2% over the same period of 2016.

– Unemployment has decreased in both quantity and rate, but the unemployment rate of the worker with “university” degree and youth groups has increased comparing to the first quarter of 2017.

The newsletter also provides some results of labor market policies:

– Results of job introduction activities through the service centers of the Labor, War Invalids and Social Affairs was 291 job exchanges, over 729 thousand people were consulted to introduce jobs and nearly 233 thousand people received jobs.

– The results of the program of sending labors to work abroad for a definite term under the contract were 34.85 thousand people.

– Results of implementation of unemployment insurance policy: nearly 219 thousand people were be entitled to unemployment benefits, nearly 323 thousand unemployed people were be advised or introduced employment, etc.

– Results of implementation of social insurance policy: with 4.8 million turns of people enjoy the social insurance, etc.

Finally, the newsletters provide forecasts on the labor market in the context of Q2 / 2017 with more positive signs in economics . It was forecasted that employment will increase in some industries such as manufacturing, construction, transportation, warehousing, etc.

The Labor Market Update Newsletter 14, once again, provided a timely and accurate picture of labor market information. It was usefull for policy makers, managers, Businesses in identifying the shortcomings and make appropriate adjustments as well as change in the perception of career orientation in the coming time.

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For more information, please contact: EDITORIAL BOARD OF LABOUR MARKET NEWSLETTER

Tel: 04.39361807

Email: bantinTTLD@molisa.gov.vn

Website: http://www.molisa.gov.vn