Labor market recovery aims for flexible and secure adaptation

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VIETNAM, February 21 –

A worker operates a machine at a factory in Linh Trung 1 Industrial Park in Ho Chi Minh City. The labor market is facing a risk of crisis with unemployment and underemployment rates rising sharply. — Photo VNA/VNS

HÀ NỘI — Although under control, the fourth wave of the COVID-19 pandemic has affected all aspects of social life, severely affecting businesses and people.

The labor market is facing a risk of crisis with unemployment and underemployment rates rising sharply and workers’ incomes falling sharply.

To revive the labor market, create more jobs and ensure the continuity of production and business activities, Việt Nam is focusing on solutions to adapt flexibly and safely to the new normal.

Nearly 160,000 companies entered or re-entered the market in 2021, a drop from the previous year, while 119,800 companies exited the market, an increase, according to a report by the General Statistics Office. nearly 18% year-on-year. year.

Along with unemployment, the pandemic has seen labor markets shift from urban to rural areas, and from major economic centers to the provinces, leading to the risk of temporary labor shortages and pressure to solve problems. on-site employment in major cities.

Labor shortages in labor-intensive industries such as apparel and textiles, footwear, e-commerce and retail have prevented many businesses from increasing capacity when production resumes. Many are only functioning at 75% compared to before the pandemic.

The Ministry of Labour, Invalids and Social Affairs has published a program to support the recovery and development of the labor market.

The program will focus on training employees, improving the quality of labor supply, scaling up digital transformation and in-person education in vocational education and investment in quality schools.

Minister Đào Ngọc Dung affirmed the need to build labor market support policies with respect to the market and to remedy the shortcomings, in particular the factors that cause an imbalance between labor supply and demand. —VNS

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