Employment in Vietnam
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. Besides, the Vietnamese government has been investing its human capital by increasing the recurrent expenditure on education and training. Consequently, the country's labor productivity has seen significant improvement in recent years.As the economy of Vietnam was once highly dependent on agriculture, this sector has been the largest employer in the last decade. On the other hand, as the economy shifts its reliance towards the industry and service sectors, the share of employment by these sectors has been growing at the expense of the agriculture sector. Vietnam has recently emerged as a new manufacturing hub due to its low-cost labor. As a result, the number of people working in manufacturing has been rising year on year, accounting for the second-largest labor force after agriculture. Furthermore, workers in manufacturing earned more than agricultural workers, who received the lowest average monthly salary in Vietnam. The ongoing expansion of the industry and service sectors has also created more job opportunities that offer better compensation, which contributed to the shift in employment in the country.
