Publication: Vietnam's Future Jobs: Leveraging Mega-Trends for Greater Prosperity
Date
2018-08
ISSN
Published
2018-08
Author(s)
Abstract
Vietnam's 50 million jobs are a
cornerstone of its economic success. The transformation
toward services and manufacturing, and impressive labor
productivity and wage growth led to plunging poverty rates
and globally enviable economic growth over the last decades.
Employment rates are high and unemployment rates are low by
global standards. The jobs challenge is to create more high
quality and inclusive jobs. Shiny foreign factories paying
above the minimum wage and offering social benefits typify,
at best, only 2.1 million jobs. And registered domestic
firms provide no more than 6 million jobs. Meanwhile, 38
million Vietnamese jobs are in family farming, household
enterprises, or uncontracted labor. These traditional jobs
tend to be characterized by low productivity, low profits,
meager earnings, and few worker protections. While they have
been a path out of poverty, they will not provide the means
to reach the middle-class status that Vietnam's
citizens aspire to. Ethnic minorities, women, and unskilled
workers cluster in these jobs.
Citation
“Cunningham, Wendy; Pimhidzai, Obert. 2018. Vietnam's Future Jobs: Leveraging Mega-Trends for Greater Prosperity. © World Bank, Washington, DC. http://hdl.handle.net/10986/31016 License: CC BY 3.0 IGO.”