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Graduate unemployment high

Released at: 04:38, 29/05/2016

Graduate unemployment high

Photo: Thanh Duc

Nearly 200,000 university graduates unemployed in the first quarter, conference hears.

by Hong Nhung - Tuan Dung

More than 1 million people of working age are unemployed and the jobless rate among people holding college, university and post-graduate qualifications is high, Mr. Dao Quang Vinh, Director of the Institute of Labor Science and Social Affairs (ILSSA), told a conference on the labor market in the first quarter on May 26.

Unemployment up

Mr. Vinh told the “Vietnam’s Labor Market Update Bulletin No. 9 in Quarter 1 of 2016” conference, co-organized by the Ministry of Labor, Invalids and Social Affairs (MoLISA) and the General Statistics Office, that in the first quarter the number of people entering the workforce was lower than that in the fourth quarter last year, at 211,120.

The proportion of salary earners continued to rise, reaching 44.1 per cent, and the unemployment rate among urban and young people fell slightly compared to the same period last year.

In the first quarter more than 1 million people of working age were jobless, a yearly fall of 87,500 people but a quarter-on-quarter increase of 20,700.

Some 540,700 people in the 15-24 age group were unemployed, a decline of 18,700 against the fourth quarter of 2015 but accounting for more than half (50.4 per cent) of all unemployed.

Incomes rise

According to the Bulletin, the incomes of salary earners continued to rise and the income gap between groups narrowed. In the first quarter, on average, monthly income from main jobs stood at $228, an increase of 3.8 per cent ($8.5) against the same period last year or 8.94 per cent ($18.7) against the fourth quarter.

Mr. Vinh attributed the increase to Tet bonuses, which were higher than last year, and to the minimum wage increase this year.

“Most sectors saw higher income rates than in the first quarter of this year and the fourth quarter of 2015, except the agriculture, forestry and fishery sector,” Mr. Vinh said.

In the first quarter 24.4 per cent of salary earners remained in the low income group, earning less than $135 per month compared to about $150 in the co-operative group and $275 in the FDI sector.

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