218,000 holders of post-secondary degrees unemployed

Last update 17:03 | 04/04/2017
218,000 holders of post-secondary degrees unemployed

Holders of bachelor, Master’s or doctorate degrees struggling with unemployment grew to more than 218,000 in the fourth quarter of last year, making up nearly half the number of skilled workers without a job.

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The latest Labor Market Newsletter of the Ministry of Labor, War Invalids and Social Affairs shows unemployment in the final quarter of last year slightly declined from the preceding quarter in terms of both number and rate.

Specifically, the jobless numbered 1.1 million, around 7,000 fewer than in the

third quarter of last year. The overall unemployment rate for the fourth quarter of 2016 was 2.31%, versus 2.34% in the preceding three months.

Despite a better picture of employment, joblessness tended to rise again in the group of people with post-secondary degrees. Out of the total of more than 470,000 skilled workers without a job in the last quarter of 2016, nearly half were holders of bachelor, Master’s or doctorate degrees, an increase of 16,500 people from the preceding quarter.

The groups with “primary” and “under three months” qualifications also faced higher unemployment like those with an academic degree.

The number of people with secondary education out of work rose from 29,000 to over 40,000. The number of those with “under three months” qualifications expanded from nearly 10,000 to more than 17,000.

Only the groups with “intermediate” and “high” levels had a smaller number of jobless people, about 14,000 and 6,000 respectively.

The unemployment rate remained the highest among youths. The number of unemployed people aged between 15 and 24 was some 587,000, equivalent to an unemployment rate of 7.28%. Although this figure is slightly lower than in the third quarter of 2016, it is still higher than in the same period of 2015, and more than tripled the overall unemployment rate (2.31%).

The number of people facing long-term unemployment (12 months or more) accounted for 24% of the total number of jobless workers. Some 54% of these unemployed people had never had a job, or unemployed for the first time.

The Ministry of Labor, War Invalids and Social Affairs is drawing up a plan for sending high-skilled workers overseas. This is a step to take advantage of redundant labor in the country, particularly those holding post-secondary degrees.

Public employees still earn the most

The report by the labor ministry said the monthly income of salaried workers in the fourth quarter of 2016 was VND5.08 million, an increase of VND143,000 (2.9%) from the preceding quarter, and VND412,000 (8.8%) over the same period in 2015.

Workers in high-tech occupations, craftsmen, machine operators and manual laborers all had higher incomes than in the third quarter of 2016 and the same period in 2015. Those working in the finance, banking and insurance industries earned the most, 2.25 times higher than the lowest income group, agro-forestry-fishery.

The average income of employees at companies in all forms of ownership improved in the fourth quarter of last year, with the foreign-invested sector recording the highest growth compared to the third quarter and the same period in 2015.

However, wages in the State sector remained the highest. Specifically, public employees were paid VND6.56 million per month, while those working at foreign-invested companies gained a monthly income of VND6.36 million.

The lowest paid was the collective sector, or cooperatives, with VND3.66 million per person a month.

SGT

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This entry was posted in Kỹ năng lao động - Worker's skill, Lao động - labor and tagged , , by Trần Đình Hoành. Bookmark the permalink.

About Trần Đình Hoành

I am an attorney in the Washington DC area, with a Doctor of Law in the US, attended the master program at the National School of Administration of Việt Nam, and graduated from Sài Gòn University Law School. I aso studied philosophy at the School of Letters in Sài Gòn. I have worked as an anti-trust attorney for Federal Trade Commission and a litigator for a fortune-100 telecom company in Washington DC. I have taught law courses for legal professionals in Việt Nam and still counsel VN government agencies on legal matters. I have founded and managed businesses for me and my family, both law and non-law. I have published many articles on national newspapers and radio stations in Việt Nam. In 1989 I was one of the founding members of US-VN Trade Council, working to re-establish US-VN relationship. Since the early 90's, I have established and managed VNFORUM and VNBIZ forum on VN-related matters; these forums are the subject of a PhD thesis by Dr. Caroline Valverde at UC-Berkeley and her book Transnationalizing Viet Nam. I translate poetry and my translation of "A Request at Đồng Lộc Cemetery" is now engraved on a stone memorial at Đồng Lộc National Shrine in VN. I study and teach the Bible and Buddhism. In 2009 I founded and still manage dotchuoinon.com on positive thinking and two other blogs on Buddhism. In 2015 a group of friends and I founded website CVD - Conversations on Vietnam Development (cvdvn.net). I study the art of leadership with many friends who are religious, business and government leaders from many countries. In October 2011 Phu Nu Publishing House in Hanoi published my book "Positive Thinking to Change Your Life", in Vietnamese (TƯ DUY TÍCH CỰC Thay Đổi Cuộc Sống). In December 2013 Phu Nu Publishing House published my book "10 Core Values for Success". I practice Jiu Jitsu and Tai Chi for health, and play guitar as a hobby, usually accompanying my wife Trần Lê Túy Phượng, aka singer Linh Phượng.

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