Published On: Thu, Jan 12th, 2012

Vietnam unemployment rate may rise in 2012

Vietnam’s unemployment rate in 2012 may continue to rise as the world economic situation is forecast to continue facing difficulties this year, the local newspaper Saigon Tiep Thi reported.
Since October 2011, the unemployment rate in Hanoi has increased. In 2011, Hanoi had 16,100 unemployed people, a 4-fold increase year on year due to the closure of production, processing facilities, and shortage of orders. Lately, 844 companies, branches, representative offices, lawyer offices finalized procedures of liquidation or bankruptcy in the capital city.

In HCM City, the market last year had more than 107,700 unemployed people, a double compared with the previous year. According to HCM City Job Promotion Centre, the higher number of the unemployed was attributed to the difficult economy and companies going bankrupt. Especially, even management staffs became unemployed and have not been able to found new jobs, accounting for 7% of total unemployed applicants to get allowance.

Vu Trung Chinh, Director of the Hanoi Job Promotion Centre (HJPC) assessed that the layoffs and unemployment might continue in 2012. “Around 10% of unemployed applicants in Hanoi used to be managers, which showed that the unemployment also hot high-level people.

Meanwhile, data of the General Statistical Office (GSO) in 2011 indicated that the unemployment rate in the labour age group was 2.27%, down 0.61% against 2010. The urban unemployment rate was 3.6%, -0.69% and that of rural areas was 1.71%, -0.59%. – Vietbiz24

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