Friday, July 12, 2019

Unemployment insurance covers nearly 13 million people

Vietnam has recorded continuous expansion of unemployment insurance coverage over the last 10 years with the number of people under this scheme approximating 13 million at present. Deputy Director of the department Le Quang Trung said the impact of unemployment on economic, political and social stability in each country is considerable. It is one of the basic causes of economic stagnation since a high unemployment rate is accompanied by income decrease.

Unemployment insurance premiums collected have also increased year by year, reaching 15.53 trillion VND (668.8 million USD) in 2018. Meanwhile, the payments totalled about 9.72 trillion VND last year, 92.8 percent of which was spent on unemployment allowances and nearly 1 percent on... Read More