What is the labor force in Vietnam?

With a population of over 96 million, Vietnam’s labor force makes up 57 percent of the population. The country’s main industries are manufacturing (16% of GDP), services (51%), and agriculture (14%) which employ a significant portion of the labor force. The unemployment rate at the end of 2019 was 2.1 percent.

What are the major occupations in Vietnam?

In 2021, almost 14.3 million people worked in the agriculture, forestry, and fishing sector in Vietnam, making this sector the largest employer among all industries. By comparison, the manufacturing industry employed approximately 11.2 million people, the second-highest number of employed population that year.

What is the labor force participation rate in Vietnam?

Vietnam labor force participation rate for 2019 was 54.58%, a 0.91% decline from 2018.

Vietnam Labor Force Participation Rate 1990-2022.

Vietnam Labor Force Participation Rate – Historical Data
Year Participation Rate for Ages 15-24 Annual Change
2018 55.49% -1.23%
2017 56.72% -0.32%
2016 57.04% -2.31%

What does labor force by occupation mean?

This entry lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction.

How many people are employed in Vietnam?

In 2020, there were approximately 53.6 million employed people in Vietnam, indicating a decrease in the number of people with employment compared to the previous year.

Who is the labor force?

Persons “in the labor force” are those in the civilian noninstitutional population, age sixteen years or older, who are employed or who are unemployed and seeking employment. The Local Area Unemployment Statistics (LAUS) Program estimates the number of labor force participants who are employed or unemployed.

What are the top 3 industries in Vietnam?

Leading the list of top industries in Vietnam is obviously information technology industry, which is followed by manufacturing, tourism, logistics, construction and agriculture.

  • Information technology.
  • Manufacturing and service industry.
  • Tourism.
  • Logistics.
  • Construction and construction materials.
  • Agricultural Industry.

What is the best job in Vietnam?

Top 10 Interesting Jobs in Vietnam

  • Real Estate Broker.
  • Foreign Language Instructor.
  • Lodging and Food Providers.
  • Tour Operator.
  • Investment Consultants.
  • Finance/Investment.
  • Banking.
  • Programmer and Information Technology Industry.

What’s the minimum wage in Vietnam?

Related Last Unit
Minimum Wages 4680.00 VND Thousand/Month

What is an example of labor force?

The labor force is the number of people who are employed plus the unemployed who are looking for work. 1 The labor pool does not include the jobless who aren’t looking for work. For example, stay-at-home moms, retirees, and students are not part of the labor force.

Who is counted in the labor force?

Who is in the Labor Force? Persons “in the labor force” are those in the civilian noninstitutional population, age sixteen years or older, who are employed or who are unemployed and seeking employment.

What is the unemployment rate in Vietnam 2022?

Vietnam Unemployment Rate dropped to 2.32% in Jun 2022, from the previously reported figure of 2.46% in Mar 2022. Vietnam Unemployment Rate is updated quarterly, available from Mar 2011 to Jun 2022, with an average rate of 2.24%.

What are 5 factors that affect the labor force?

Both the demographic composition of the population and the relationship between each demographic factor and labor force participation can change over time.

  • Sex.
  • Birth Cohort.
  • Education.
  • Race and Ethnicity.
  • Disability.
  • Marital Status.
  • Presence of Young Children at Home.

What is Vietnam main source of income?

The majority of Vietnam’s export revenues are generated by crude petroleum, garments, footwear, and seafood, and electronic products are of growing importance.

What is the biggest economic sector in Vietnam?

In 2021, the industry sector contributed just over 2.68 thousand trillion Vietnamese dong to the gross domestic product (GDP) of Vietnam, the largest contribution among all sectors.

What is a high salary in Vietnam?

Top Vietnam Salaries – By Job

Activity Average Salary Salary Comparison
Compliance, AML, KYC & Monitoring $73,000 73000.0
Financial Services $60,000 60000.0
Finance Control & Strategy $55,000 55000.0
Programme & Project Management $52,000 52000.0

How much does a factory worker make in Vietnam?

On average, most factory laborers earn about 6 million dong (U.S. $256) a month with little or no pay differential for overtime work, workers said.

What is a good salary in Vietnam?

Average Local Salary: The average monthly salary of a worker in Vietnam is about $148 per month; those in high paying jobs bring home around $500 per month.

What is the average annual salary in Vietnam?

The average salary in Vietnam is 6.1 million Vietnamese Dong (VND) per month or 277 USD/month (according to the exchange rates in Aug 2021) — which is lower than the average salaries in countries like the USA or UK.
5. Professions.

Profession Average Annual Salary
Construction Worker 75,213,197 VND

How do you find the labor force?

The labor force is the sum of the employed plus the unemployed, and the unemployment rate is the number unemployed divided by the number in the labor force.

Who is excluded from labor force?

Persons who are neither employed nor unemployed are not in the labor force. This category includes retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work.

Who are not included in labour force?

Definition: Labour force participation rate is defined as the section of working population in the age group of 16-64 in the economy currently employed or seeking employment. People who are still undergoing studies, housewives and persons above the age of 64 are not reckoned in the labour force.

Why is Vietnam unemployment so low?

Thanks to the economic growth and its positive impact on the availability of jobs, the total number of employed people in Vietnam had been steadily increasing in the past few years, before slightly declining in 2020 due to the impacts of the COVID-19 pandemic.

What percentage of Vietnam is poverty?

In 2021, the poverty rate in Vietnam was around 4.4 percent. In recent years, the rate of poverty has been decreasing steadily in the country thanks to economic progress and its positive impact on the living standards of the population.

What increases labor force?

Higher levels of population and economic production induce higher labor force size. Personal income levels and educational attainment are shown to positively influence on labor force size, while cost of living within a state is shown to have no impact.