Unemployment rate drops to five-quarter low in Q3

Young people receive job consultation at a labour fair (Photo: VNA)

Hanoi, (VNA) – The rate of unemployment among people of working age dropped to 2.26 percent in the second quarter, the lowest for the past five quarters, according to the latest newsletter on the labour market update released by the Ministry of Labour, Invalids and Social Affairs (MoLISA) on September 15.

The number of people of working age without jobs stood at around 1.08 million, down 20,100 from Q1 and down 7,100 compared to one year ago.

However, the unemployment rate among those holding under-graduate and higher degrees rose to 3.63 percent (the figure for Q1 was 2.79 percent).

Dao Quang Vinh, director of the Institute of Labour and Social Science under the MoLISA, said the quality of the labour force continued to improve but at a slow pace.

In the reviewed quarter, skilled labourers (who underwent training of at least three months) accounted for only 22.6 percent of the total workforce.

The number of employed labourers rose slightly (39,700) from Q1 to reach 53.4 million. The rate of paid worker continued to rise, reaching 42.77 percent. Around 6.21 million people worked in the non-State business sector, up 38,000 from the previous quarter.

The average income of paid workers dropped compared to Q1, but increased 7.2 percent on a yearly basis.

During Q2, MoLISA’s job placement centres organised 291 job fairs and nearly 233,000 persons found employment. More than 34,800 workers were sent abroad on working contracts in the period.-VNA