Education – Labor

Vietnam loses 2.4 million jobs in first two quarters

WEDNESDAY, 16/09/2020 08:52:05

A large number of enterprises had to suspend operation or dissolve in the past months, seriously affecting the labor market.


Illustrative image (Photo: VNA)
 
A total of 2.4 million jobs have been lost in Vietnam in the first two quarters this year, the biggest reduction for the period in the past decade, due to the COVID-19 pandemic, according to Deputy Minister of Labor, Invalids and Social Affairs Le Van Thanh.

Speaking at a thematic conference held by the Party Committee of the bloc of central agencies in Ha Noi on September 15, the deputy minister underlined the severe impacts of the pandemic on production and business activities in most industries and sectors. A large number of enterprises had to suspend operation or dissolve in the past months, seriously affecting the labor market.

He also cited figures of the General Statistics Office, which showed 17.6 million laborers suffered from reduction of income, with average income in the second quarter standing at 5.2 million VND (over 223 USD), down 525,000 VND from the first quarter and 279,000 VND from the same period last year.

Deputy Minister Thanh stressed that considering the current situation and forecasts on pandemic developments and socio-economic conditions, tasks and solutions should be developed based on the principle of being ready to co-exist with the pandemic.

According to Thanh, solutions in terms of labor, employment and social security from now to the end of the year should address two goals at the same time, which are to help laborers overcome the current difficulties and create firm prerequisites for production and business activities in the long run.

He said there are two main groups of solutions, which are short-term and long-term ones, but both groups should be implemented at the same time.

Besides providing immediate support for laborers and enterprises, it is important to prevent social inequality from arising or worsening due to the COVID-19 pandemic, Thanh said.

VNA

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