Labor markets: current trend

November 8, 2022

Most Vietnamese workers find their jobs through ad hoc, informal channels. About half of job-seekers relied on friends or relatives to find a job. Young people and the less-skilled gravitated toward personal networks, even though they likely have smaller employment-relevant social circles. Search in cities, with their more organized labor markets, rely less on personal connections. Another 22 percent did not look for a job but instead undertook means to start their own business; this reflects a new generation of (mostly) household enterprise owners. Older groups of workers have a higher tendency to start their own firms, as is observed across the world.

In spite of the emergence of a range of e-platforms and services to facilitate the job match, few job-seekers use these methods to find jobs.

Internet-based job search sites are proliferating, but only 2-3 percent of job seekers use these sites; not surprisingly, youth are more inclined to find jobs via the internet. However, even person-to-person job search assistance – via recruitment firms, education institution-based services, and public employment services – are infrequently used. Older workers depend more on publicly provided services than do younger workers, but this still accounts for less than 10 percent of job search by workers age 45-65. This may be partly explained by anecdotal evidence about abusive private and public search support services.

Poor information about labor markets hinders efficient jobs matches. Employer cite three issues, that can be tied to information: poor information about the skills required to do a job, insufficient information about the kinds of jobs that are available, and incorrect information about the wages or work conditions for which the applicant is eligible.


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