The ILO’s report, released on January 21, forecast a rosy picture of Vietnam’s labour market for 2014.
A record high 202 million people around the world were estimated to be unemployed in 2013, many of them young labourers, which was largely attributed to the slow global economic recovery, the report said.
It also noted that the unemployment rate in Vietnam last year rose slightly from 2012, mostly in the most vulnerable group, the young.
ILO Director General Guy Ryder was optimistic about the prospects for the Vietnamese labour market in 2014. He revealed that job generation in the 4th quarter of 2013 grew by 1.7% to 862,000 compared to a year earlier, which bodes well for 2014.
Foreign direct investment (FDI) businesses also reported employment growth of 4.8% year on year, with a large number of employers working in industrial, construction and service industries, he said.
However, he expressed concerns over the rising global unemployment rate among young people.
The world’s youth unemployment rate was estimated at more than 13%, while Vietnam’s figure was 5.95%.
