- The labor force grew YoY despite slipping from the peak recorded in Q4 2024. According to the General Statistics Office (GSO), Vietnam’s labor force is estimated at 52.9 million, a decline of 230,700 people or -0.4% QoQ, yet an increase of around 532,000 people or +1.0% YoY (Figures 1 and 2).

- The services sector continued leading in job creation. Total employment reached 51.9 million, a decrease of approximately 234,000 people or -0.4% QoQ, but an increase of 532,100 people or +1.0% YoY. Of the total employment, employment in the services sector rose to 21.1 million (+100,200 QoQ & 574,400 YoY), the industry and construction sector employed 17.3 million people (-287,100 QoQ & + 262,600 YoY), while the agriculture, forestry & fishery sector declined to 13.5 million employees (-47,100 QoQ & -304,900 YoY) (Figures 3 and 4).

- Informal employment continued increasing while formal employment fell. In Q1 2025, the number of informal employment increased by around 200,000 people QoQ to 33.4 million (+123,800 YoY) while the number of formal employment declined by around 433,900 people QoQ to 18.5 million (+408,400 YoY). As a result, the informal employment rate/total employment rose 0.7% QoQ to 64.3% (-0.5% YoY) (Figures 5 and 6).

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