Government to cap unemployment at 4%

Vietnam now has nearly 55 million people of working age. Unemployment is 3.2% in urban areas and 1.8% in the countryside. To maintain an unemployment rate of less than 4% in 2018, the government has crafted policies to improve vocational education and balance supply and demand in the labor market.

Nguyen Anh Tuan, Director of the Vietnam National Productivity Institute, said “Workers need to improve their skills and employers should offer more incentives and preferential treatment to encourage employees”.

Nguyen Thanh Nhan, Deputy Director of the Hanoi Department of Labor, Invalids and Social Affairs says the focus should be on improving tertiary education and labor market forecasts.

“Career orientation should be provided to high school students to help them choose the best path for their future. And parents should change their mindset on vocational training,” Nhan said.

The government intends to develop more skilled workers and promote science and technology to provide the labor resources demanded by the 4th industrial revolution.