The number of people affected by COVID-19 plunged to 4.4 million in Q3 2022 from 8.0 million in Q2 2022, according to the General Statistics Office of Vietnam’s (GSO) survey. Of the total, 0.3 million had lost their jobs (accounting for 6.4%), 1.3 million had to temporarily suspend their production/business (accounting for 29.6%), 1.2 million had their working hours reduced (accounting for 27.7%) and 3.6 million had their income reduced (accounting for 80.7%). 

Unemployment rate edged down to a three-year low. According to the GSO, Vietnam’s labor force increased by 245,000 people QoQ and 2.8 million people YoY to 51.9 million in Q3 2022, bringing Vietnam’s labor force participation rate to a one-and-a-half-year high of 68.7%. In addition, total employment increased 255,200 QoQ to 50.8 million, which means that more than 3.5 million jobs were added to the economy since the peak of Vietnam’s fourth wave of COVID-19 in Q3 2021. Moreover, the unemployment rate inched down to a three-year low of 2.07% from 2.10% in Q2 2022. 

The Industrial & construction sector led job-creation in Q3. Of the total jobs gained in Q3 2022, the industrial & construction sector added 147,000 jobs (+1.3 million YoY) to 17.0 million. The services sector followed with 102,600 jobs added (+2.7 million YoY) to 19.8 million. Meanwhile, the agriculture, forestry & fishery sector was little changed in Q3 2022 at 14.0 million (+5,600 QoQ); however, it experienced a drop of 433,500 jobs YoY as people who had returned to their hometowns during the fourth wave of COVID-19 in Q3 2021 returned to their workplaces.

Powered by Froala Editor