According to the report on the socio -economic situation in the second quarter and the first six months of 2024, published on June 29th by the General Statistics Office (GSO), the labor force aged 15 and over in the first six months of 2024 totaled 52.5 million people, an increase of 196,600 compared to the same period last year. The number of employed people was 51.4 million, an increase of 195,700. The unemployment rate was 2.27% and the underemployment rate among the working-age population was 2.05%, an increase of 0.05 percentage points.
Adding over 196,000 people to the workforce.
The national labor force aged 15 and over in the second quarter of 2024 was estimated at 52.5 million people, an increase of 148,600 people compared to the previous quarter and an increase of 217,300 people compared to the same period last year. The labor force participation rate in the second quarter of 2024 was 68.6%, an increase of 0.1 percentage point compared to the previous quarter and a decrease of 0.3 percentage points compared to the same period last year.
Overall, in the first six months of 2024, the labor force aged 15 and over was 52.5 million people, an increase of 196,600 people compared to the same period last year; the labor force participation rate was 68.5%, a decrease of 0.4 percentage points.
The percentage of trained workers with degrees and certificates in the second quarter of 2024 was 28.1%, an increase of 0.3 percentage points compared to the previous quarter and an increase of 1.3 percentage points compared to the same period last year. Overall, in the first six months of 2024, the percentage of trained workers with degrees and certificates was 28%, an increase of 1.4 percentage points, indicating a gradual improvement in the quality of the workforce.
The number of employed people in the second quarter of 2024 is estimated at 51.4 million, an increase of 126,600 compared to the previous quarter and an increase of 217,400 compared to the same period last year. Of these, 19.7 million are in urban areas, an increase of 145,600 compared to the previous quarter and an increase of 728,100 compared to the same period last year; while 31.7 million are in rural areas, a decrease of 19,000 compared to the previous quarter and a decrease of 510,700 compared to the same period last year.
In the first six months of 2024, the number of employed people reached 51.4 million, an increase of 195,700 compared to the same period last year. Of these, 19.7 million were employed in urban areas, an increase of 687,900 compared to the same period last year; while 31.7 million were employed in rural areas, a decrease of 492,200.
Overall, employment is trending upwards, but the labor market is not yet developing sustainably. This is evidenced by the large proportion of informal employment.
The number of informally employed workers (including those working in agriculture, forestry, and fisheries) in the second quarter of 2024 was 33.5 million, accounting for 65.2% of the total employed workforce, an increase of 271,700 people compared to the previous quarter and an increase of 210,300 people compared to the same period last year.
Overall, in the first six months of 2024, the informal employment rate was 65%, an increase of 0.2 percentage points compared to the same period last year. Specifically, the urban area accounted for 49.7% (up 0.3 percentage points), the rural area for 74.5% (up 0.6 percentage points), the male employment rate for 68.2% (up 0.2 percentage points), and the female employment rate for 61.5% (up 0.3 percentage points).
The number of underemployed people of working age in the second quarter of 2024 was 948,000, an increase of 15,000 compared to the previous quarter and an increase of 7,300 compared to the same period last year.
The underemployment rate among the working-age population in the second quarter of 2024 was 2.06%, an increase of 0.03 percentage points compared to the previous quarter and unchanged compared to the same period last year. Specifically, the urban area rate was 1.53%, an increase of 0.33 percentage points and a decrease of 0.13 percentage points; while the rural area rate was 2.41%, a decrease of 0.17 percentage points and an increase of 0.1 percentage points.
In the first six months of 2024, the number of underemployed people of working age was 940,500, an increase of 27,300 compared to the same period last year. The underemployment rate among people of working age was 2.05%, an increase of 0.05 percentage points compared to the same period last year; of which the underemployment rate in urban areas was 1.37%, a decrease of 0.12 percentage points; and the underemployment rate in rural areas was 2.49%, an increase of 0.17 percentage points.
According to the national statistics agency, in the first six months of 2024, the average income of workers was 7.5 million VND/month, an increase of 7.4%, or 519,000 VND, compared to the same period last year. Specifically, the average income for male workers was 8.5 million VND/month, while for female workers it was 6.4 million VND; the average income for urban workers was 9.1 million VND/month, and for rural workers it was 6.5 million VND/month.
The unemployment rate is 2.27%.
According to data from the General Statistics Office, the unemployment rate among the working-age population in the second quarter of 2024 was 2.29%, an increase of 0.05 percentage points compared to the previous quarter and a decrease of 0.01 percentage points compared to the same period last year, with the rate in urban areas at 2.71% and in rural areas at 2.01%.
The unemployment rate among the working-age population in the first six months of 2024 was 2.27%, unchanged from the same period last year, with 2.68% in urban areas and 2% in rural areas.
One of the key targets of the Government 's 2024 socio-economic development plan is to keep the urban unemployment rate below 4%.
The youth unemployment rate (aged 15-24) in the second quarter of 2024 was 8.01%, an increase of 0.02 percentage points compared to the previous quarter and an increase of 0.6 percentage points compared to the same period last year. Compared to the unemployment rate among the working-age population, the youth unemployment rate is consistently high, more than three times higher, because young people are a young workforce with a higher demand for jobs, making them compelled to seek employment.
Furthermore, young people are generally well-equipped with advanced knowledge and skills, giving them more opportunities to choose jobs that meet their expectations rather than taking temporary, low-paying jobs. The youth unemployment rate in urban areas is 10.19%; in rural areas it is 6.86%. In the second quarter of 2024, approximately 1.3 million young people (aged 15-24) nationwide were unemployed and not participating in education or training, accounting for 10.2%. The unemployment rate among young people in rural areas was 11.3%, and in urban areas it was 8.5%; the unemployment rate among young women was 11.5%, and among young men it was 9.0%.
The youth unemployment rate (aged 15-24) in the first six months of 2024 was 8%, an increase of 0.49 percentage points compared to the same period last year. Specifically, the urban youth unemployment rate was 10.18%, an increase of 0.65 percentage points; while the rural youth unemployment rate was 6.87%, an increase of 0.4 percentage points.
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