16:03 | 12/04/2016 Economy- Society
(VEN) - The Ministry of Labor, Invalids and Social Affairs and the General Statistics Office have coordinated to announce an annual report on the domestic labor market which predicts a boom in processing and manufacturing, transport and warehousing, and information and communications in 2016.
The domestic labor market is expected to attract 55.3 million people across the country as of the fourth quarter of 2016
According to the report, the domestic economic recovery has enlivened the Vietnamese labor market. Some 55.3 million workers will be employed across the country as of the fourth quarter of 2016, accounting for 77.8 percent of the total population aged 15 and older, including 48.2 percent of which being female workers and about 32.9 percent of which living in urban areas. In addition, the unemployment rate is predicted to reach as low as 2.2 percent.
This year, the processing and manufacturing sector is predicted to employ about 692,000 new workers, transport and warehousing sector 145,000 new workers, and the information and communications sector to employ 115,000 new workers. However some sectors will shrink, for example, the agro-forestry and fishery sector is predicted to shed 376,000 workers, while 20,000 workers will leave the mining sector.
The report expressed concerns over the fact that 19.58 percent of graduates from vocational colleges and 20.79 percent of graduates from universities are unemployed, which poses a big question for related ministries and agencies in the context of increasing international integration and foreign skilled workers may come seeking job opportunities in Vietnam.
Managers earned VND7.8 million a month, skilled workers VND6.6 million and manual workers VND3.19 million. Some 51 percent of job finders are ready to negotiate on wages while 21.5 percent are requesting wages from VND4-6 million per month given the tightened availability of workers.