On the afternoon 15th march 2018, the Ministry of Labour – Invalids and Social Affairs organized Launching Workshop: Vietnam’s Labour Market Update Newsletter, Volume 16, 4th Quarter 2017’’ at the meeting room of the Institute of Labour Science and Social Affairs.
The workshop is chaired by Mr. Doan Mau Diep – Deputy Minister of the Ministry of Labour – Invalids and Social Affairs and Mr. Dao Quang Vinh – Director General of the Institute of Labour Science and Social Affairs, Head of Editorial Board.
Representatives of Ministries, sectors, social organizations, research institutes, universities, Hanoi Department of Labour – Invalids and Social Affairs and domestic press and media organizations participate in the workshop.
In the opening remarks, Mr. Doan Mau Diep said that despite of many difficulties, the year of 2017 can be considered as a special year when after many years, Vietnam has completed and exceeded 13 socio-economic development targets, in which, GDP growth rate was the highest rate in nearly 10 recent years at 6.7%.
In this context, the labour market of quarter 4, 2017 had positive changes with some highlights as follows:
- Quarter 4/2017, workers with college, university or higher level had a faster increase in scale.
- The number of employed people increased in comparison with previous quarter and the same quarter in 2016. The business environment has been improved with the increase in the number of new enterprises and total number of operating enterprises, which contributed to the increase in the number of employed people and the shift in labour structure. The number of workers in the processing, manufacturing, construction, and transportation and warehouse industries continued to go up over the previous quarter and the same quarter of last year. The proportion salaried workers also went up.
- Unemployment slightly decreased both in terms of quantity and rate. The unemployment rate of youth and university degree holders or higher declined sighnificantly compared to the 3rd quarter, 2017.
- The quality of labour supply source was improved but still slow. It is necessary to promote to meet the requirements of transfroming the growth model towards the gradual reduction of resouces exploitation and moving to processing, manufacturing industries and on-going high-tech agriculture. In the 4th quarter 2017, Vietnam had 11.6 million employees having certificate/degree (accounting for 21.5% of total employees). In which, nearly 8.2 million people (70.1%) worked in services sector, 2.6 million people in industry-construction (22.41%), only 870 thousand people (7.49%) in agro-fishery and forestry (AFF) sector.
Additionally, labour market policies have brought positive signals:
- Vocational training enrollment in 2017 reached 2.2 million, in which: 540 thousand people in colleages and intermediate-level, 1,660 thousand people in elementary-level and under 3-month training. About 600 thousand rural workers get vocational training support under decision no.1956/QD-TTg and nearly 20,000 people with disabilities have been supported in vocational training.
- Result of employment service activity: The Employment Service Centers organized 339 jobs transaction sessions (more than the previous quarter), more than 781 thousand people get employment consultation and more than 245 thousand people were employed.
- Result of program for sending workers to work aboard: More than 42 thousand workers were sent to work abroad under contract
- Result of unemployment insurance policy implementation: More than 156 thousand people were entitled to unemployment allowance, nearly 276 thousand unemployed poeple get employment consultation, over 9 thousand unemployed people get vocational training support, etc.
- Result of social insurance policy implementation: 10.7 million people enjoyed social insurance allowances, etc.
Finally, the newsletter gives the labour market forecast that in the context of economic forecast of 1st quarter 2018 with many positive signs, the labour market will receive further positive impact.
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Editorial board of labour market update Newsletter