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Workforce at 54.6 mn in Q1

Released at: 10:45, 05/04/2019

Workforce at 54.6 mn in Q1

Photo: MoLISA

MoLISA releases quarterly update on country's labor market.

by Nghi Do

Vietnam’s workforce totaled an estimated 54.6 million people in the first quarter of 2019, an increase of 60,500, or 0.11 per cent compared to the fourth quarter of 2018 and up 1.1 per cent year-on-year, according to the Ministry of Labor, Invalids and Social Affairs (MoLISA) and the General Statistics Office.

Some industries had higher demand for jobs than in the fourth quarter of 2018, such as power, water and gas (up 18.4 per cent), banking and finance (5.8 per cent), and entertainment and arts (8.5 per cent). Those seeing lower demand included agriculture, forestry and fisheries (down 0.8 per cent), mining and mineral exploitation (7.6 per cent), and real estate (8 per cent).

Figures from MoLISA’s electronic workforce portal show that in the fourth quarter demand for recruitment in the Non-state sector accounted for 76.47 per cent, the FDI sector 14.44 per cent, and the State-owned sector 8.72 per cent.

The number of those seeking jobs was 31,500 in the fourth quarter of last year, up 23.3 per cent compared to the third quarter. Those with a Bachelor’s degree or higher accounted for 19 per cent, while those without university qualifications accounted for 19.8 per cent. Those who have intermediate and college degrees accounted for 30.2 per cent and 23 per cent, respectively. In terms of industries, accounting, human resources, and banking and finance had the highest number of people seeking jobs in the fourth quarter of 2018, equivalent to increases of 1,500, 90,000, and 60,000, respectively, compared to the third quarter. The number of unemployed was estimated at 1 million people, down 7,600 compared to the third quarter and down 8,810 compared to the fourth quarter of 2017.

The report also noted that productivity continued to improve in the first quarter of 2019. Technology application in agriculture, meanwhile, is expected to transform the labor structure.

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