Only 11.6% of Vietnam’s 57.5 million workforce are high skilled, and the rate of English proficiency is 5%. The average monthly wage of Vietnamese labor force is estimated at around US$242 in 2019, in which the average manufacturing wage is US$238, much lower than that of the Asia – Pacific region at US$1,801 and global average of US$1,931, according to global workforce solutions provider ManpowerGroup. The availability of Vietnam’s workforce. Source: ManpowerGroup. As only 11.6% of Vietnam’s labor force are highly skilled, it is considered one of the main reasons for such low wage. Additionally, only 5% of Vietnamese workforce has English proficiency, while the ratio of R&D workers to every 1,000 in workforce is 1.49. The country’s total labor force is estimated at 57.5 million in 2019, up 0.8% year-on-year, including 41% with permanent jobs. Vietnam’s productivity compared to the region’s average. Source: ManpowerGroup. In the company’s latest Total Workforce Index (TWI) 2019, an indicator of workforce potential and the availability of the best, most diverse talent and in-demand skills in each market, Vietnam ranked 57th out of 76 countries and territories, down from the 43rd in 2018. In the Asia – Pacific region, Vietnam stood at 13th, down… Read full this story
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