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Vietnam's labor market quality yet to improve

HANOI
2024-01-02 13:19

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HANOI, Jan. 2 (Xinhua) -- In spite of increasing employed population, Vietnam's labor market quality has yet to improve with a large portion of informal workers, the General Statistics Office (GSO) said in its latest report.

In 2023, the number of employed workers in Vietnam is 51.3 million, increasing by 683,000 people compared to the previous year, according to the office.

The per capita monthly income of Vietnamese people was averaged at 7.1 million Vietnamese dong (292 U.S. dollars) in 2023, up 6.9 percent year-on-year, said the report.

The number of informal workers in 2023 was 33.3 million people. The rate of workers with informal jobs stood at 64.9 percent, down 1.8 percentage points compared to 2022.

According to GSO, the decline in the number of orders from the last quarters of 2022 to the end of 2023 has severely affected the economy in general and the labor market in particular, especially the manufacturing industry. This has reduced efficiency of policies promoting the formalization of informal labor.
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