What is the unemployment rate in Vietnam?

Vietnam’s Unemployment Rate Holds Steady in First Half of 2024

Vietnam’s labor market remained relatively stable during the first half of 2024, with the unemployment rate holding steady at a low 2.27%. This figure mirrors the rate recorded for the same period in 2023, suggesting a continued resilience in the Vietnamese economy. However, regional variations are noteworthy.

While the national average unemployment rate remained consistent, a slight disparity emerged between urban and rural areas. Urban unemployment rose to 2.68%, representing a slightly higher rate than the national average. Conversely, rural unemployment remained remarkably low at 2%, indicating a more robust job market outside of the major cities.

Beyond the headline unemployment rate, the concept of underemployment warrants consideration. A significant 2.05% of the working-age population experienced underemployment in the first half of 2024. This suggests that while unemployment may be relatively low, there may be a segment of the workforce that is not fully engaged or satisfied with their current employment situations.

These figures paint a picture of a Vietnamese economy that is likely experiencing a stable, but not necessarily booming, job market. The relatively low unemployment rate suggests economic growth is likely supporting sufficient job creation to meet demand. However, the presence of underemployment highlights a potential area for further analysis concerning workforce satisfaction and the optimal allocation of available jobs. Further data and analysis will be needed to fully understand the underlying factors influencing the labor market dynamics in Vietnam.