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Vietnam expects GDP growth rate at 7.1-7.3 percent in Q4

Vietnam’s economy will continue the recovery trend with a GDP growth rate forecast at 7.1-7.3 percent in the fourth quarter of 2016, according to the General Statistics Office (GSO).
Vietnam expects GDP growth rate at 7.1-7.3 percent in Q4 ảnh 1Students at a vocational school (Photo: VNA)

Hanoi (VNA) – Vietnam’s economywill continue the recovery trend with a GDP growth rate forecast at 7.1-7.3percent in the fourth quarter of 2016, according to the General StatisticsOffice (GSO).

Accordingly, the economy is set to remainattractive to FDI and enjoy an increase in exports. A big portion of overseasremittances will be poured into economic activities while there will be a surgein the number of new businesses and their charter capital.

Those growth momentums will have positiveimpacts on the labour market, the GSO and the Ministry of Labour, Invalids andSocial Affairs said in their latest report on the labour market announced onDecember 2.

The report expects the workforce in Q4 toexpand slightly, 0.2 percent, from a year earlier, while the number of labourerswith at least three-month training will rise by 4-5 percent. The unemploymentrate among the working-age population is predicted at about 2.2 percent.

Looking back to Q3, the agencies noted improvementsin the labour market such as an increase in the rate of trained labourers, adecline in the proportion of workers in the agro-forestry-fishery sector in thetotal workforce, and salary earners’ higher income.

However, economic growth did not generatemany jobs and the unemployment rate still rose in the last three quarters, theyadded.

In Q3, 68.09 percent of the workforceworked in rural areas, dropping slightly from Q2 and a year earlier. The figurefor the industry-construction sector climbed 0.4 percent and for the servicessector, 0.1 percent, compared to the three-month period through June.

More than 1.1 million people of working agewere idle in Q3, up 29,000 from the previous quarter but down 11,000 from thesame period of 2015, data show.-VNA
VNA
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