Empowering the youth in the employment field of unemployment
Youth unemployment refers to the share of the labor force aged 15–24 without work but available for and seeking employment. Southeast Asia has a high youth unemployment rate which is mostly driven by the high rates in Indonesia, the Philippines, and Timor-Leste.
Young people account for a large share of the labor force with nearly half (49.5 percent) aged between 15 and 39 years. Making its transition to a higher value economy, Vietnam is facing the challenge of producing jobs for its young and expanding labor force and providing it with relevant skills for the growing service and manufacturing sectors.
Young people have a greater likelihood of being unemployed and among the working poor than adults, reflecting both structural issues and young people’s particular vulnerability to economic shocks.
Indeed, over the last ten years, the structure of the labor market significantly changed, although agriculture remains the dominant sector of employment creation in Vietnam despite current industrialisation.