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Saturday, June 15, 2024

People over 40 account for nearly 30% of job cuts in HCMC

The Saigon Times

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HCMC – Around 48,000 people in HCMC claimed unemployment benefits last year and were aged above 40, according to the HCMC Employment Service Center. They accounted for around 30% of all those who made unemployment claims.

Director of the HCMC Employment Service Center Nguyen Van Thuc Hanh unveiled these figures on January 10. In 2023, the number of individuals seeking unemployment benefits increased by 10% over the previous year, primarily due to job cuts or career transitions.

Out of the 166,000 people who lost their jobs last year, 8% were under 24 years old, while the majority, 62%, were in the 25 to 40 age range. Notably, workers aged over 40 made up a significant 29% of the total.

In 2021, about 29,000 individuals in the 40-plus age group lost jobs, but this number rose to 40,600 in 2022 and 48,000 last year.

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