Vietnam unemployment applications rise sharply : ministry

Number of people applying for unemployment benefits rose 40% to 318,000 in the first 11 months of this year, data from employment department of the Ministry of Labour – Invalids and Social Affairs (MOLISA) showed.

Le Quang Trung, deputy head of the department said one of the factors leading to high unemployment was economic difficulties leading to rising corporate bankruptcy, the local online newspaper Thoi Bao Kinh Te Sai Gon reported.

Besides, higher employment turnover land laborers seeking for higher paid jobs also helped boost unemployment rate as those people still get unemployment benefit during off-work time despite the fact that they might get the other one, Trung said.

The other factor leading to high unemployment application is the number of people eligible to apply for it rose sharply, Trung said, adding that the number of people buying unemployment insurance rose to 8 million from 7 million in 2010

There are 76,317 enterprises being revoked business licenses in 11M/2011, said Pham Thi Hai Chuyen, Minister of the Ministry of Labour – Invalids and Social Affairs.

In Ho Chi Minh City alone, the number of unemployment application rose 50% to 101,000 in the first 11 months of this year, said a representative of employment service center in the city.

Source Ruby/ StoxPlus,

Tags: Vietnam economic, Vietnam economic growth, Vietnam economy, Vietnam economy 2011

Posted by VBN on Dec 20 2011. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry