Income in Hanoi Surpasses that of Ho Chi Minh City

In the third quarter, the average monthly income of workers in Hanoi was VND9.9 million ($405), which was 6.5% higher than the average income of VND9.3 million in Ho Chi Minh City, according to the General Statistics Office. The average income of workers in Hanoi increased by 9.7% compared to the previous year, while the income in Ho Chi Minh City only rose by 0.6%.

Other major localities also experienced an increase in average income. In the southern province of Dong Nai, the figure rose by 1.8% to VND8.7 million, and in the northern province of Thai Nguyen, it went up by 15.5% to VND7.3 million.

The Red River Delta region had the highest income growth rate of 6%, followed by a 2.2% increase in the Southeastern region. The Southeastern region also reported the highest unemployment rate in the country during the third quarter, standing at 3.08%. The average income nationwide was VND7.1 million, showing a 2% increase.

In the third quarter, around 118,000 people lost their jobs due to a decrease in orders, which was nearly half the number compared to the second quarter. Most of the job losses occurred in Ho Chi Minh City and the southern province of Binh Duong.

Additionally, 54,000 workers experienced reduced work hours, with a majority of them working in foreign direct investment companies.

The General Statistics Office stated that demands from major export markets remained low due to inflation, and businesses should anticipate a decrease in orders in the coming months.

It is worth noting that Vietnam’s labor quality remains low, as over 38 million workers have not received formal training.