According to ManpowerGroup’s Total Human Resource Index Report 2022, Vietnam currently has an abundant labor force with approximately 50.74 million people of working age.
Another notable indicator of Vietnamese workers is the share of casual workers who make up 55% of the total workforce. This corps often does not have an employment contract and the possibility of being socially insured is very limited.
Skill level is one of the points that Vietnamese workers have to overcome in order to be on par with other markets. Although there is a high degree of educational universalization (about 88%), the number of employees with high skills or expertise only represents about 11.67%, almost unchanged from 3 years ago.
Soft skills, including foreign language skills, are playing an increasingly important role in most industries. In addition to English, there are a number of other foreign languages, such as Chinese, Japanese, and Korean. However, the percentage of Vietnamese workers who speak enough English to work is only 5% of the labor force. This percentage is quite low compared to non-English speaking countries in the region such as Indonesia (10%), Malaysia (21%), Thailand (27%).
The report also revealed that the average income of Vietnamese workers is currently USD 275 (equivalent to VND 6,545,000). This is a relatively attractive labor cost and brings many benefits to employers, helping to attract foreign investors.
@ Cafe