Strong rise in unemployment among graduates: labour ministry hinh anh 1Young people read vacancy information at the Hanoi Employment Service Centre (Photo: VNA)

Hanoi (VNA) – The unemployment rate among university graduates and those holding higher degrees in the third quarter of 2017 was 4.51 percent, compared to 3.63 percent in the previous three months, according to the Ministry of Labour, Invalids and Social Affairs (MoLISA).

MoLISA released a report on Vietnam’s labour market in the third quarter in Hanoi on December 26.

Accordingly, unemployment between July and September declined slightly, 6,800 from April-June and 42,900 from the same period last year, to 1.07 million people of working age

However, 237,000 persons with at least a bachelor’s degree were unemployed, up 53,900 from the previous quarter.

Dao Quang Vinh, Director of MoLISA’s Institute of Labour Science and Social Affairs, said the employment number was 53.77 million, rising by 365,900 from the second quarter and 496,900 from a year earlier.

The processing and manufacturing industry recorded the strongest increase in the employment number. It was followed by the construction, transportation-storage, and property business sectors.

Meanwhile, the number of people working in accommodation and eating services saw the sharpest fall, both month on month and year on year.

The report showed that there were 22.92 million salary earners in the third quarter, compared to 22.84 million between April and June. The monthly income from their main jobs averaged 5.36 million VND (over 236 USD), increasing by 162,000 VND from the second quarter and 434,000 VND from a year earlier.

MoLISA predicted Vietnam’s GDP growth rate at 7.5 – 7.7 percent in the fourth quarter and over 6.7 percent in 2017, which would have positive impacts on the labour market. 

The trend of business establishment and operation resumption along with growing export driven by the rosy global economic situation would also positively influence labour demand in some industries, the ministry added.-VNA