Average bonuses for both New Year and Lunar New Year (Tet) festivals 2022 in 60 cities and provinces were down slightly, reported the Ministry of Labour, Invalids and Social Affairs.

About 62.7 percent firms out of a total 42,159 reported an average bonus of 6.17 million VND (268 USD) each person for the Lunar New Year, or 97 percent of that recorded in 2021 and 92.2 percent of the 2020 figure.

All enterprises recorded a 2-10 percent reduction in Tet bonus compared to 2021 and 2020. Foreign-invested firms offered the highest bonus of 6.66 million VND on average to each employee, equivalent to 95 percent from 2021 and 97.5 percent from 2020.

The private sector gave 5.92 million VND, or 98 percent from 2021 and 92.4 percent from 2020.

A 5.59 million VND bonus per person was recorded in one-member limited liability companies wholly held by the State, or 96 percent from 2021 and 90.7 percent from 2020.

Meanwhile, bonuses for New Year festival were only equivalent to 58 percent from last year.

Source: VNA