Department of Employment: Workers' income reached 7.6 million VND/month, an increase of nearly 550,000 VND.

Many young people found jobs with the desired income and benefits at job fairs organized by the Hanoi Department of Labor, War Invalids and Social Affairs in coordination with districts and communes - Photo: HA QUAN

The Department of Employment, Ministry of Labour, Invalids and Social Affairs , has just released a report on the labor market and unemployment insurance.

The Bureau of Employment warns of rising unemployment rates.

The Bureau of Labor Market Assessment reported that the recovery and development continued in the first five months of 2024. Basic labor market indicators have returned to normal trends seen before the COVID-19 pandemic.

Workers' income reached 7.6 million VND/month, an increase of 549,000 VND compared to the same period in 2023.

In the first quarter of 2024, the number of workers aged 15 and over reached 52.4 million, an increase of more than 175,000 compared to the same period in 2023.

The proportion of trained workers with degrees and certificates reached 27.8%, an increase compared to the same period last year, but there are still approximately 37.8 million untrained workers nationwide.

By the end of May 2024, the number of people participating in unemployment insurance was estimated at over 14.2 million, an increase of approximately 1.67% compared to the same period in 2023. In May 2024, unemployment insurance payments exceeded 1,500 billion VND.

According to reports compiled from 60 out of 63 localities, approximately 116,000 businesses and organizations are looking to recruit around 1.9 million workers in 2024.

Demand is concentrated in the unskilled labor segment, accounting for nearly half of the total. Meanwhile, the demand for university and postgraduate graduates is only about 19%.

However, the Bureau of Employment warns that the youth unemployment rate remains high, at nearly 8%.

Approximately 1.4 million young people aged 15-24 are unemployed and not participating in education or training (accounting for 11% of the total youth population nationwide).

In the last six months of 2024, the Department of Employment stated that the drafting agency is focusing on developing the revised Employment Law project, to be submitted to the Government in June 2024, implementing solutions to improve the effectiveness of loans for job creation, and attracting and effectively utilizing foreign labor in Vietnam...

Businesses are increasing recruitment, especially for young people.

Speaking to Tuoi Tre Online , Mr. Do Duc Chi, deputy general director of Nhan Kiet Human Resources Supply Company, said that recently, companies that are major partners of Apple and Samsung have increased their recruitment of workers, especially young, skilled, and dynamic personnel, with thousands of job openings.

According to Mr. Chi, business demands are changing, increasingly requiring higher quality labor in terms of health and the ability to absorb new technologies. "This is because many businesses are restructuring and introducing modern machinery into their production processes," he explained.

In addition, foreign-invested enterprises (FDI) still have a need to recruit both unskilled and skilled workers who have received training.

To find a job quickly, this person suggests that young people need to thoroughly research recruitment information such as job requirements, salary, benefits, and perks.

In the long term, he suggested the need for a national job exchange that provides accurate, verified, and comprehensive information to facilitate job searching for workers, especially young people, and prevent exploitation and fraud.

According to Mr. Vu Quang Thanh, deputy director of the Hanoi Employment Service Center, in the second quarter of 2024, recruitment trends in the capital city focused on the service sector, including restaurants, accommodation, food and beverage, tourism, textiles and footwear, manufacturing, office administration, information technology, finance, real estate, and construction.

The center will continue to coordinate with businesses and training institutions to introduce suitable jobs for final-year students, young people, and soldiers or police officers who have completed their service and returned to their localities.

According to the Department of Employment, in the first five months of 2024, over 98,000 businesses nationwide registered for new establishment or resumed operations, an increase of 4.1% compared to the same period last year. On average, 19,800 businesses were newly established or resumed operations each month.

The number of businesses withdrawing from the market exceeded 97,300, an increase of 10.5% compared to the same period last year. On average, 19,500 businesses withdrew from the market each month.

Source: https://tuoitre.vn/cuc-viec-lam-thu-nhap-nguoi-lao-dong-dat-7-6-trieu-dong-thang-tang-gan-550-000-dong-20240616110517454.htm