65% of workers receiving unemployment benefits do not have a degree

The Ministry of Labor, War Invalids and Social Affairs recorded more than 291,000 people applying for unemployment benefits, a decrease of 66,000 people compared to the second quarter. Of these, 65% of workers do not have a certificate, 15% have a university degree or higher, 6% have a college degree, 6% have a secondary degree and 7% have a primary degree.

Sewing, embroidery and related workers are the occupational group with the largest number of unemployment benefit applications, over 26%; followed by assembly workers, accountants, sales staff and electronics technicians.

This is the result of a wave of job cuts that has lasted from mid-2022 until now, when a series of textile, footwear, and wood processing enterprises cut their workforce. However, compared to the previous quarter, the number of workers negatively affected by orders this quarter has decreased, causing the number of people applying for unemployment benefits to also decrease.

The number of unemployed workers is 118,000, down nearly half, mainly in Ho Chi Minh City and Binh Duong. The number of laid-off workers is 54,000, down 187,000, mostly in FDI enterprises. Of which, leather and footwear account for nearly 32% and textiles and garments account for 31%.

Data from more than 18,300 recruitment companies and 73,000 job seekers shows that half still prefer workers with a university degree or higher, while middle and senior management positions only account for 13-15%. Part of the demand "meets" supply as nearly 46% of job seekers have a university degree or higher. However, more than 22% of workers want middle management jobs, double the number needed to recruit.

Most job seekers are between the ages of 20 and 39. About 40% of workers only need a salary of less than 10 million VND; 32% choose 10-15 million VND; 18% want a salary of 15-20 million VND and 10% expect over 21 million VND.

The labor market reversed compared to three months ago when the occupations of real estate brokers; food and beverage; electrical engineering, security staff; and marketing staff needed the most recruitment. Meanwhile, in the second quarter, real estate brokers, food and beverage were the occupational groups with the most workers looking for jobs.

The Ministry of Labor, War Invalids and Social Affairs forecasts that in the last three months of the year, employment in some industries such as the production of electronic products, computers, and optical products will continue to decline. The General Statistics Office also forecasts that purchasing power in export markets will remain low, with war, inflation, and tight monetary policies causing a decline in global demand for goods. Workers may still lose their jobs and have their incomes reduced as businesses continue to cut orders.