Unemployment rises as prices rise

On September 5, the Vietnam General Confederation of Labor said that in the first 8 months of the year, in a number of industries and localities, the number of workers losing their jobs is increasing due to sharp increases in commodity prices.

Bank interest rates are always high, so businesses and investors face many difficulties in mobilizing capital and expanding production and business, causing many projects to be postponed according to the Government's policy of controlling inflation.

However, there is also a paradox of labor shortage in some provinces and cities in the Southern region, where there are many industrial parks and export processing zones. The reason is that the wages of workers are low, the cost of living in the cities is expensive, and income does not guarantee the minimum living needs, so a number of workers have changed jobs or returned to their hometowns to work.

Nominal wages of workers in all regions increased according to the Government's roadmap for increasing minimum wages, but real wages of workers decreased.

It is worth noting that there is currently a situation where a large proportion of workers and laborers working in the foreign-invested enterprise sector have very low incomes and slow wage growth, while some workers working in state-owned monopoly enterprises have very high incomes, which do not reflect the business results of the enterprises.

In the first 8 months of the year, strikes and collective work stoppages continued to increase in key provinces and cities with many industrial parks, with 799 strikes. The main cause of the strikes was that business owners violated labor laws. In addition, wages and incomes were too low, and the quality of meals did not ensure the health of workers.

According to Tien Phong