19
March, 2020
41% 14% 45%
High Impact Medium Impact Lower Impact
Vietnam
Latest Available Workforce Statistics
February 2020
Total Workforce
56m
Unemployed
1.2m
Impact of Coronavirus
▪ A bailout package of US $2.7bn has been approved.
▪ The Government will help with the temporarily
unemployed or furloughed employees (~US $77 per
month). Terminated employees and those ineligible
for unemployment allowances or have no contract will
also be supported (~US $70 per month)
▪ Approximately US $91m have been paid in
unemployment allowances from January to March.
▪ Schools and most non-essential businesses are
closed in key provinces, although some lockdown
restrictions were lifted in outer areas.
▪ Companies can lay off employees for economic
reasons. Negotiated temporary reduction of salary is
permissible but it can't be less than minimum wage
Employment Share: Coronavirus - Likely Impact by Sector
High Impact Medium Impact Lower Impact
Accommodation
and Food Services
5%
Construction
9%
Education
4%
Real Estate;
Business and
Administrative
activities
2%
Financial and
Insurance Activities
1%
Human Health and
Social Work
Activities
1%
Manufacturing
19%
Mining and
Quarrying
<1%
Public Admin,
defence, social
security
3%
Wholesale and
Retail trade
13%
Transport, storage
and communication
4%
Utilities
1%
Arts, Entertainment,
Recreation and
other services
3%
Agriculture, Forestry
and fishing
36%
Share of Workforce based on Sector and Likely Impact of Coronavirus on Jobs
Forecast YOY Change
2.7%
IMF GDP
Forecast*
*IMF Real GDP Forecast is a baseline scenario which assumes pandemic containment
measures are gradually wound down in the second half of 2020. IMF, World Economic
Outlook, April 2020
IMF, World Economic Outlook, April 2020 https://www.imf.org/en/Publications/WEO/Issues/2020/04/14/weo-april-2020
https://ilostat.ilo.org/data/ https://www.ilo.org/global/topics/coronavirus/lang--en/index.htm
https://www.lexology.com/research/hubs/coronavirus
https://tradingeconomics.com/
https://thethaiger.com/coronavirus/loophole-closed-more-unemployed-to-receive-payments-from-thai-government
https://www.bangkokpost.com/thailand/general/1895015/schools-wont-reopen-until-july-1
https://www.reuters.com/article/us-health-coronavirus-vietnam/vietnam-to-extend-coronavirus-lockdown-in-12-provinces-for-seven-days-idUSKCN21X1MY
https://en.vietnamplus.vn/pm-approves-266-billion-usd-bailout-package-for-covid19affected-people/171513.vnp
https://www.gso.gov.vn/