Businesses are struggling to maintain employment and pay wages for workers amid stagnant production, falling revenues, and mounting operating costs.

Vietnam is one of the countries with the fastest aging populations in the world. It is estimated that the golden population period (high percentage of working age adults) will end by 2038.

Many businesses are planning to reduce the number of employees on their payroll in the next few months.

Foreign enterprises are beginning to shift their investments into industries that require medium-level workers or higher-skilled workers as opposed to putting money into labour-intensive industries as in the past,

Only 11.6% of Vietnam’s 57.5 million workforce are high skilled, and the rate of English proficiency is 5%.

Many young Vietnamese have foregone the 9 to 5 routine and chosen to work in alternative types of employment.

Indonesia’s gross domestic product (GDP) growth could slow to 4.9 percent in 2020 and 4.6 percent in 2022 amid intensifying risks such as the escalating trade tension between China and the US, according to the World Bank.

Vietnam, like many other countries, is in a bid to spur economic innovation with Artificial Intelligence (AI), but experts say the country is starting from at a low point and needs to make a huge effort to catch up with the global trend.

More than 56 percent of banks recruited new workers in Q3, but 26.6 percent said they still lacked workers, while more than 61 percent of banks planned to recruit more workers in the fourth quarter, a report says.

VietNamNet Bridge - Japan and South Korea are tightening control over illegal residential workers, while Vietnam plans to export 105,000 workers. 

 VietNamNet Bridge – All cases causing airway insecurity at levels B and C (A is the highest level) in the first six months this year were made by people, and this fact raised a “red” alarm about work force quality in the airway sector,

VietNamNet Bridge - Software firms have urged training establishments to reconsider the training process and apply measures to improve the workforce for the software industry.

 VietNamNet Bridge – The Minister of Labour, Invalids and Social Affairs Pham Thi Hai Chuyen spoke to the Lao dong (Labour) newspaper about the difficulties facing female workers on Saturday, Oct 24.

 VietNamNet Bridge – Viet Nam's low labour productivity reflects more the lack of proper training and professionalism than a lack of diligence, experts and entrepreneurs say.

 VietNamNet Bridge – Nearly 12 percent of young urban residents aged 15-24 are jobless, three times more than in rural areas,

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 VietNamNet Bridge – International organizations, in the reports released consecutively in November, showed the worrying situation of the Vietnamese workforce.

 VietNamNet Bridge – Vietnam is currently going through a so-called period of ‘golden population’ with declining birth-rate and high number of working people.