Vietnam's number of employed up by 175,800 YoY to 52.4 mn in Q1 2024

08 Apr '24

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Vietnam's number of employed was 52.4 million in Q1 2024—a rise of 175,800 YoY, implying that the labour market came back to the pre-COVID-19 level, official data show.
The number of new recruits was 174,100 higher YoY in the quarter.
Unemployment rate in the working age group fell by 0.01 pp to 2.24 per cent during Q1 2024 compared to the previous quarter.

The number of employed in Vietnam was 52.4 million in the first quarter (Q1) this year—a rise of 175,800 year on year (YoY), implying that the labour market came back to the pre-COVID-19 level, according to the country’s general statistics office (GSO).

The number of new recruits was 174,100 higher in Q1 2024 than that of the same period last year.

Unemployment rate in the working age group decreased by 0.01 percentage point to 2.24 per cent during Q1 2024 compared to the previous quarter’s rate, a news agency reported. In urban areas, the rate has been below 3 per cent since Q1 2022.

The average monthly income of Vietnamese workers was VND7.6 million ($335) during the quarter, an increase of VND549,000.

The population of untrained workers in the country remains high: around 37.8 million. The proportion of workers in the informal sector in the economy is quite high as well: 64.6 per cent of the total employed.

Fibre2Fashion News Desk (DS)

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