Vietnam Workforce to Grow 1.5% Annually in 2010-2015: Ministry
More than 700,000 people will join Vietnam’s national workforce every year in the 2010-2015 period, an annual increase of 1.5%, said a recent report from the Institute of Labor Science and Social Affairs.
This makes the country one of the fastest growing labor markets in the Southeast Asia, just behind Indonesia and the Philippines.
The economy is thus under pressure to create jobs, the MoLISA added.
Between 2000 and 2007, agricultural jobs as a proportion of the total dropped from 65% to 52%, with many workers shifting to the industrial and service sectors.
Cheap labor will no longer provide the country a competitive edge when it shifts from a labor-intensive, export-driven economy to a high-tech, capital-intensive one to climb in the global value chain, the ministry admitted.
Vietnam now has more than 47 million people of working age with total workers in the state-owned sector accounting for 9.6%, those in the non-state-run sector 88.8 % and 1.6% in the foreign-invested sector. (VNA)
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