Employment & Welfarein Vietnam

Prepared by Van Tran

Table of content

• Labor market overview• Statistic data• Employment benefit• Unemployment allowance• Reference

Labor market overview

• 3 main sectors: industry, agriculture and service

• The working-age population in the 4th quarter of 2013 reached 69.3 million people.

• Around 2/3 of Vietnam’s working-age population, or 46.1 million people, were still based in rural areas.

• Unemployment Rate in Vietnam increased to 2.22 percent in the first quarter of 2015 from 2.10 percent in the fourth quarter of 2014.

Employed Person (mil.)

Employed persons by gender (thousand)

2009 2010 2011 2012 20130

5000

10000

15000

20000

25000

30000

35000

40000

FemaleMale

Significant trend• Economic growth in 2013 was moderate but

showed signs of progress.• Along with the economic recovery, labor

market trends were positive. Economic participation in the labor market increased, and the share of the labor force with technical expertise expanded.

• The elder labor force (over the statutory working age) rapidly increased by 10.1% and reached 6.3 million people.

• Change in employment structural

Employment Benefits

Compulsory benefit

InsuranceType Employers Employees Total

Social Insurance 18% 8% 26%

Medical Insurance 3% 1.5% 4.5%

Voluntary Insurance 1% 1% 2%

Total 22% 10.5% 32.5%

Voluntary benefits

• Discounts for employees• Company trips• Selling stocks• Transportation• Professional trainings• Skills trainings• Long-term contract assurance• Year-end bonus (1-month salary)• Occasional parties

Reference

• VIETNAM’S LABOUR MARKET UPDATE Vol.1, Quarter 1-2014• Labour and Social Trends in Viet Nam 2009/10• data.un.org• http://www.molisa.gov.vn/