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According to the Vietnam General Confederation of Labor, the situation of enterprises encountering trouble and laborers being unemployed has happened since September 2022.

From January 16, 2023, Vietnam Trade Union introduced a resolution to deliver financial aid of VND1-3 million (US$42-126) per person to its members and 70 percent of that amount to non-member laborers.

Until now, over 86,500 applications for this aid have been submitted, 94 percent of which are considered eligible. The total support money reaches more than VND114 billion ($4.8 million).

Statistics from the Ministry of Labor, War Invalids and Social Affairs reveal that in the first 5 months of this year, nearly 510,000 laborers were laid off or had their working time reduced, their labor contract temporarily stopped, accounting for 3.4 percent of the total employees in all businesses.

The Vietnam General Confederation of Labor predicts that the labor market in the last few months of this year is not at all brighter, and workers will still suffer from joblessness, working time reduction, and salary drop. Therefore, the Standing Committee of the Director Board of Vietnam Labor General Confederation suggested maintaining the support policy to members of the confederation.

This policy is extended until December 31. The deadline to receive applications is January 31, 2024, and necessary procedures will have been completed by March 31, 2024. The estimated financial aid for the new round is VND145 billion ($6.1 million).

Source: SGGP