Vietnam Employment Trends Report

Vietnam Employment Trends Report
Name:Vietnam Employment Trends Report

Recent developments in the labour market situation of Vietnam can be encapsulated into the following seven major components (not necessarily in order of importance):

1. Large increases in the population between 1997 and 2007 have added to the country's labour force, placing pressure on the Vietnam labour market. However, future population growth is not expected to be as high as the previous decade.
2. There has been strong GDP growth with consequent employment gains and improved labour productivity, supporting poverty reduction efforts.
3. There has been a downward trend in labour force participation rates and also employment-topopulation ratios. Contributing to this shift are youth remaining in school longer and adults taking earlier retirement.
4. A very large component of total employment falls into the category of being vulnerable to lacking decent work.
5. There have been significant sectoral shifts in employment with a decreasing proportion in agricultural employment, and rising employment in the industrial and services sectors.
6. Unemployment is not presently a problem in the country, with the unemployment rate remaining stable and very low over the past decade.
7. While Vietnam remains largely a rural population, it is gradually shifting toward being more urban.

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