The Ministry of Labor, Invalids and Social Affairs has recently released the Vietnam labor market report for the fourth quarter of 2023, which showed a slight decrease in the number of unemployed workers receiving benefits compared to the previous quarter, but still at a high level.
TOP 5 INDUSTRIES WITH THE HIGHEST NUMBER OF UNEMPLOYMENT BENEFICIARIES
The Ministry of Labor, Invalids and Social Affairs stated that by implementing synchronized measures to restore and develop the labor market, positive results have been achieved. This has helped industrial zones, export processing zones, and key economic areas maintain a stable workforce.
The number of workers forced to take leave, quit, or lose their jobs in businesses has decreased in the last months of 2023, partly reducing the unemployment insurance rate in the fourth quarter.
In the fourth quarter of 2023, there were 250,226 individuals who submitted applications for unemployment benefits, a decrease of 41,124 compared to the third quarter. However, compared to the same period in 2022, this number increased by more than 36,800.
The number of individuals approved for unemployment benefits in the fourth quarter was 255,473, with over 5,000 individuals receiving vocational training and more than 609,000 individuals receiving counseling and job referrals.
As usual, the group of workers without certification accounted for the largest proportion of those receiving unemployment benefits, at 64.5% (a slight decrease from 65% in the third quarter); 15.4% had a university degree or higher, equivalent to the third quarter.
7.5% of the beneficiaries had a primary vocational certificate (a slight increase from 7% in the third quarter). The group with a college degree increased slightly to 6.5%, while it was 6.3% in the third quarter. The group with intermediate vocational education accounted for over 6%, similar to the third quarter.
Looking at the industries, the Ministry of Labor, Invalids and Social Affairs revealed that there are 5 industry groups with the highest number of workers applying for unemployment benefits. These include processing and manufacturing industries, accounting for over 43% of the total registered beneficiaries. Other groups include other service activities; agriculture, forestry, and fisheries; wholesale and retail trade, automobile and motorcycle repair; and construction.
In terms of occupations, the highest number of applicants for benefits were tailors, embroiderers, and related workers, accounting for over 26%, followed by other occupations such as assemblers, salespersons, accountants, and welders.
EFFECTIVE SOLUTIONS AND TIMELY SUPPORT FOR EMPLOYEES
Generally, in 2023, there were 1,104,217 employees who applied for unemployment benefits, an increase of 12.2% compared to the same period in 2022 (983,810 individuals), according to the Employment Department (Ministry of Labor, Invalids and Social Affairs).
The number of individuals approved for unemployment benefits throughout the year exceeded 1.06 million, an increase of 9.5% compared to the same period in 2022 (975,333 individuals). The total number of individuals receiving counseling and job referrals was over 2.3 million, an increase of 5.8% compared to the same period in 2022 (2,225,758 individuals).
To effectively implement unemployment insurance policies, the Ministry of Labor, Invalids and Social Affairs conducted inspections on the implementation of unemployment insurance at 4 job service centers in Bac Kan, Gia Lai, Binh Dinh, and Thai Binh provinces.
In addition, in collaboration with the Inspectorate of the Ministry, inspections were conducted on the management functions of the provincial People’s Committees (Department of Labor, Invalids and Social Affairs, Industrial Park Management Boards, Export Processing Zones) related to employment, including unemployment insurance policies in certain localities such as Thua Thien Hue, Hung Yen, and Hai Phong City.
The inspection and examination of law enforcement, with a focus on unemployment insurance, were strengthened to detect issues, propose policy improvements, and identify violations to prevent and deal with them in a timely manner.
The Ministry of Labor, Invalids and Social Affairs forecasts that in the first quarter of 2024, there will be about 51.7 million employed individuals, an increase of 217,000 compared to the fourth quarter. Certain industries are expected to create more jobs, such as food processing, which is projected to increase by 1.8%, and electrical equipment manufacturing, leather production, and related products, which are expected to increase by 1.6%.
However, the economy still faces many difficulties due to adverse global and regional developments, challenges in economic growth, industrial production, exports, and investment.
Some industries are projected to decrease employment, such as specialized construction activities and electrical equipment manufacturing. Job shortages and job losses may still occur.
Therefore, in the coming year, timely implementation of policies and support for workers, especially social insurance, unemployment insurance, and wages, remain high priorities. The focus should be on providing counseling and introducing new job opportunities to stabilize livelihoods as soon as possible.
