Friday, May 29 2020

VietNamNews

Unemployment benefit recipients up 9.11 per cent in Q1

Update: March, 25/2020 - 07:27

 

People apply for unemployment benefits at Việt Nam Social Security. — VNA/VNS Photo Anh Tuấn

HÀ NỘI — The number of recipients of unemployment benefits nationwide rose by 9.11 per cent to 378,000 people during the first quarter of 2020 as many businesses were forced to suspend operations or went bankrupt due to the impact of the COVID-19 pandemic.

According to Đỗ Ngọc Thọ, an official from the Việt Nam Social Security (VSS), close to VNĐ2.12 trillion (US$91 million) was paid in unemployment allowances from January to March.

About VNĐ18 billion has been spent to financially support 8,160 unemployed people to pursue vocational training, up 10.1 per cent from the same period last year.

The pandemic is taking a toll, directly or indirectly, on various sectors, such as tourism, services, transportation, retail, textile and garment, foreign trade, investment, and finance-banking, among others. 

The shrinking production and shutdown of services have resulted in job cuts, leaving unemployment insurance to play a crucial part in providing relief for workers and their families and maintaining social and economic stability.

The Vietnamese Law on Employment stipulates the unemployed are subject to a monthly allowance equal to 60 per cent of their average monthly wage of the last six months before they become unemployed on which unemployment insurance premiums are based. 

The duration of the unemployment allowance receipt is based on the number of months of payment of unemployment insurance premiums but must not exceed 12 months.

At the same time, the unemployed can also enjoy free job counselling and recommendations.

Meanwhile, employers may receive financial aid to hold training courses to improve the skills of their workers. — VNS

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