Unemployment rate falls, workers' incomes increase

The report on the socio-economic situation in the third quarter and the first nine months of 2022 pointed out that the labor force and the average monthly income of employees increased compared to the previous quarter and the same period last year.

Unemployment and underemployment rates decreased. The unemployment rate of working age in the third quarter of 2022 was estimated at 2.28 percent, a decrease of 0.04 percentage points compared to the previous quarter and down 1.70 percentage points over the same period last year.

In the first nine months of 2022, the unemployment rate of working-age workers was 2.35 percent. The unemployment rate in urban areas was 2.88 percent and in rural areas was 2.02 percent.

The labor force aged 15 and over was 51.6 million, an increase of 1.2 million people compared to last year. The labor force participation rate was estimated at 68.5 percent, up 0.9 percentage points over the same period the previous year.

Employed laborers aged 15 and over in the third quarter of 2022 were around 50.8 million people. This includes 14 million people working in the agriculture, forestry and fishery sectors, accounting for 27.6 percent of the total. The industry and construction sector had 17 million people, equivalent to 33.4 percent. The service sector, with 19.8 million people, accounted for 39 percent.

The underemployment rate of aged workers in the third quarter of 2022 was 1.92 percent, down 0.04 percentage points compared to the previous quarter and down 2.54 percentage points over the same period last year.

In the first nine months of this year, the underemployment rate of working-age workers was estimated at 2.29 percent, of which the underemployment rate in urban areas was 1.75 percent; the underemployment rate in rural areas was 2.63 percent.

The average monthly income of salaried employees in the third quarter of 2022 was VND7.6 million/month, an increase of VND126,000 compared to the previous quarter and VND1.6 million higher than the same period last year. The income of male workers was VND8 million/month, and female employees are VND7 million/month.

Generally, for the first nine months of 2022, the average monthly income of salaried employees is estimated at VND7.5 million/month, an increase of VND805,000 compared to the same period last year.

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