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Monday, June 24, 2024

Additional 70,000 workers likely to lose jobs each month toward year-end

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HCMC – In the final months of 2020, the number of workers who are at risk of losing their jobs is expected to rise by 60,000 or 70,000 per month due to the impact of Covid-19, according to the worst-case scenario mapped out by the Department of Employment under the Ministry of Labor, Invalids and Social Affairs.

The scenario also predicted that the number of enterprises affected by the pandemic in the local market would soar to 70%, while some 3.5-5 million workers would be furloughed or have their working hours reduced.

The ministry said that before the coronavirus struck early this year, some 80,000-90,000 people were part of the local employment market each month, while the number of employees working in foreign countries via foreign labor contracts was 11,000.

However, in April and May, the employment market saw some 60,000 workers lose their jobs each month as firms faced difficulties in terms of goods supply, exports and consumption caused by the global coronavirus pandemic.

The second wave of Covid-19, the disease caused by the new coronavirus, is expected to heavily affect the employment market due to the broken supply chains, Nguoi Lao Dong Online reported.

Private firms and small and medium enterprises have been hit hard by the health crisis. As of July, the number of enterprises that suspended operations rose by 41.5% year-on-year.

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