The highest Lunar New Year bonus is 5.6 times higher than last year.

The highest bonus for Lunar New Year 2024 is more than 5.68 billion VND, 5.6 times higher than last year and the highest in many years.

The highest bonus for the Year of the Dragon this year belongs to a senior manager of a Japanese FDI enterprise in Long An. Meanwhile, the highest bonus for the Year of the Cat 2023 is 1.04 billion VND; the Year of the Tiger 2022 is 1.3 billion VND; the Year of the Ox 2021 is 1.1 billion VND; and the Year of the Rat 2020 is 950 million VND.

According to statistics from the Department of Labor and Wage Relations (Ministry of Labor, War Invalids and Social Affairs) of nearly 47,400 enterprises in 62 provinces and cities (excluding Quang Tri), 61.4% of enterprises will give Lunar New Year bonuses in 2024. The average bonus is 6.85 million VND per person, equivalent to last year.

About 56% of businesses plan to give bonuses for the 2024 New Year. The average bonus is VND1.85 million per person, up 49% from last year. The highest bonus of VND376 million belongs to a senior manager working in an FDI enterprise in Vinh Phuc.

Production shift of workers at a textile factory in Thai Nguyen. Photo: Ngoc Thanh — Production shift of workers at a textile factory in Thai Nguyen. Photo: *Ngoc Thanh*

Average wages in 2023 increased by 3% compared to last year, reaching VND8.49 million per month, up 3%. The highest salary of VND834 million per month belongs to senior managers at FDI enterprises in Dong Nai.

In the reports of provinces and cities, the highest Lunar New Year bonus is billions of dong and the lowest is a few hundred thousand dong. However, this level is not common, it is a recognition of businesses with the contributions of some outstanding individuals.

In general, the average Lunar New Year bonus has not changed much compared to last year, with a difference of 100,000 VND. Compared to last year, the highest bonus in some localities such as Hanoi, Binh Duong, and Can Tho has decreased sharply.

Tet bonus is not a fixed amount stipulated in the Labor Code, it is not mandatory but depends on the production and business situation of the enterprise. In 2023, affected by the reduction of orders, many enterprises still try to have Tet bonuses to retain employees.

In the third quarter, the country recorded 118,400 unemployed workers, a decrease of over 99,000 compared to the second quarter. This number was concentrated in two provinces in the Southeast region: Binh Duong (33,600 people) and Ho Chi Minh City (34,600 people). The number of workers on furlough was 54,000, a decrease of 187,000 compared to the second quarter. 66% of affected workers work in FDI enterprises; 32% in the leather and footwear industry, and 31% in the textile and garment industry.

Hong Chieu

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