Vietnam’s unemployment benefit payouts at VND7 trillion in first half of 2020

by NDO30 June 2020 Last updated at 15:00 PM

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VTV.vn - The Vietnamese government has provided nearly VND7 trillion (US$300 million) in unemployment benefits in the first half of 2020 with the job market being hit hard by the coronavirus outbreak.

According to the labour ministry, up to 565,000 people filed for unemployment insurance during the January-June period, up 32% over the same period of 2019.

It is estimated that 30.8 million have been affected by the coronavirus as of June, which has led to job losses, unpaid furlough, reduced working hours and lower wages.

The services sector was hardest hit, with 72% of the workforce facing impacts of varying degrees, followed by the industrial sector with 67.8% of the workforce hurt by the coronavirus outbreak.

The farming sector is the least affected by the virus with just one in four feeling its impacts.

The number of lost jobs in the first half of 2020 was estimated at 1.4 million.

* On June 29, the State Bank of Vietnam and the government of Dak Lak Province held a conference as part of a series of meetings between the central bank and provincial authorities to support corporate customers affected by the coronavirus.

At the conference, many enterprises proposed that the State Bank of Vietnam in Dak Lak direct commercial banks to facilitate their access to loans so as to restore their businesses.

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