Society

Fourth wave of COVID-19 severely affects labour market

The severe and prolonged fourth wave of COVID-19 seriously affected the Vietnamese labour market, pushing the rate and number of underemployed people in the third quarter this year to the highest level in the past 10 years.
Fourth wave of COVID-19 severely affects labour market ảnh 1At the seminar (Photo: VNA)
Hanoi (VNA) - The severe and prolonged fourth wave of COVID-19seriously affected the Vietnamese labour market, pushing the rate and number ofunderemployed people in the third quarter this year to the highest level in thepast 10 years.

The information was released at a press conference in Hanoi on October 12 onthe labour market in the third quarter of this year, by the General StatisticsOffice.

“More than 1.8 million people of working age were underemployed in the thirdquarter of this year, an increase of 700,000 compared to the previous quarterand an increase of 620,000 over the same period last year,” said Pham Hoai Nam,director of the GSO's population and labour statistics department.

The underemployment rate of people of working age in urban areas is higher thanin rural areas, reaching 5.33 percent and 3.94 percent, respectively.

“This is different from the common trend observed in our country withunderemployment in rural areas often more severe than in urban areas,” Namsaid.

According to GSO, more than 1.7 million people of working age were unemployedin the third quarter of 2021, an increase of 532,200 compared to the previousquarter and an increase of 449,600 compared to the same period last year.

Unemployment is a situation when a person seeking a job is unable to find one.Underemployment is a situation when a person is working but isn't working athis full capability.

Nam said that the complicated developments of the fourth wave of COVID-19 andthe prolonged social distancing period in many localities had pushed theunemployment rate in the third quarter far beyond the usual 2-percent figure.

The unemployment rate of people of working age was 5.54 percent, up 2.18percentage points from the previous quarter and 1.6 percentage points over thesame period last year.

In particular, the unemployment rate of young people aged 15-24 in Q3 was 8.89 percent,an increase of 1.42 percentage points compared to the previous quarter and anincrease of 0.75 percentage points over the same period last year. That rate inurban areas was 12.71 percent, 5.56 percentage points higher than in ruralareas.

In the first nine months of 2021, the number of unemployed people of workingage was more than 1.3 million people, up by 126,5000 compared to the sameperiod last year. The unemployment rate of people of working age was 2.99 percent,up 0.35 percentage points over the same period last year. The unemployment ratein urban areas was 4.02 percent, 1.64 percentage points higher than in ruralareas.

In nine months, the unemployment rate of young people between 15-24 years oldwas 7.9 percent, up 0.13 percentage points over the same period last year. Thatrate in urban areas was 10.79 percent, up 0.26 percentage points over the sameperiod last year.

“The labour market is facing a serious crisis with a series of negative recordsbeing set, millions of workers have lost their jobs, their incomes have beencut. It is now more difficult for workers to find jobs than ever before,"said Nam./.
VNA
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