Nearly 1.07 million people lost their jobs in 2023, 14,600 fewer than in 2022, according to the General Statistics Office (GSO).

Vietnam’s unemployment rate fell to 2.28 per cent.

The GSO said the implementation of socio-economic recovery and development measures, improvements to the business environment, and an increase in national competitiveness last year contributed to cutting unemployment.

The rate of unemployed young people aged between 15 and 24 was 7.63 per cent, or 437,300 people, down 0.15 percentage points compared to 2022.

The southern region no longer topped the country in unemployment, with its rate down 0.41 percentage points in the fourth quarter to 2.67 per cent. Ho Chi Minh City’s rate also fell, to 2.91 per cent, down 0.78 percentage points compared to the third quarter.