VNExpress-Dec 18

Ninety percent of Vietnamese who lost their jobs in Q3 stopped looking for new employment, more than other Southeast Asian nations, a study found. The ratio in Indonesia is 60 percent and Malaysia 40 percent, according to a report by Asian Development Bank (ADB). It used data from the General Statistics Office that shows 4.4 percent of the working population, or 1.8 million people, lost their jobs in the third quarter, up 620,000 year-on-year. Among them, 90 percent exited the workforce. A survey in October by VnExpress and Private Sector Development Committee found 53 percent of workers were still unemployed at the time. ADB said the negative impacts of the pandemic and prolonged social distancing have forced factories to suspend operation, forcing many into unemployment. Workers have also seen their incomes drop. Informal workers, who are overrepresented among the region’s poor and near-poor workers, were particularly vulnerable to the crisis since they have limited job security and social protection. Read more at: https://e.vnexpress.net/news/business/economy/most-workers-stop-looking-for-new-jobs-adb-4404895.html