Illustrative image (Source: VNA) Of the figure, 50 million people have got jobs, up132,200 year-on-year, with those working in the service sector making the largest share(38.7 percent), followed by industry and construction (33.5 percent), andagro-forestry-fishery (27.8 percent).
The office said the programme on socio-economicrecovery and development in line with Resolution No. 11/NQ-CP with specificmeasures has warmed up the labour market in the first three months.
Meanwhile, around 1.3 million people wereunemployed, down 135,200 from the previous quarter.
Living standards of labourers have been improved andtheir average income has been restored significantly.
The Business Registration under the Ministry ofPlanning and Investment said despite severe impacts of the COVID-19 pandemic,business operations have bounced back since December 2021 thanks to the Government’sflexible measures in response to the pandemic.
ILO Vietnam Labour Economist Valentina Barcucci said in 2000, 65.3 percent of the employed labour force was in agriculture. Twentyyears later, those two-thirds fell to a little more than one third (37.2 percent). That additional third is roughly split between services and industry.
While in 2000, agriculture was by far the biggestemployer in the country, today services and agriculture are virtually equal(37.3 and 37.2 percent respectively), followed closely by the industry sector(25.5 percent of employment).
Between 2010 and 2020, the Human Capital Index (HCI) value for Vietnam increased from 0.66 to 0.69. (Photo: VNA) The country will need a new growth model to move outof the risk of a lower middle-income trap and achieve modernisation,industrialisation, as well as sustained growth. This calls for a modernizedlabour market too, she said.
Labour productivity of the whole economy at thecurrent price is estimated at 171.3 million VND (7,398 USD) per worker, 538 USDhigher than that of 2020. The labour productivity in 2021 increased by 4.71percent due to improved qualifications of workers with the proportion oftrained workers with degrees and certificates in 2021 reaching 26.1 percent,higher than the 25.3 percent of 2020.
The productivity, however, is still much lower thanthat in other countries in the region like Singapore, Malaysia, Thailand andIndonesia, said Bui Quang Tuan, Director of the Vietnam Institute of Economics.
According to the World Bank (WB), between 2010 and2020, the Human Capital Index (HCI) value for Vietnam increased from 0.66 to0.69, higher than the average of the countries that have the same income withVietnam.
Vietnam is one of the countries in East Asia-Pacificthat have the highest HCI, reflecting its great achievements in education andhealth care over the past years, the bank said./.
VNA
