The Impact of the Covid-19 Pandemic on the Labor Market in Vietnam

Abstract

This article explores the effects of the COVID- 19 epidemic on Vietnam's labor market, thereby pointing out the advantages and disadvantages facing the labor market. The article uses qualitative methods and analysis, thereby giving results on the impact of the pandemic on Vietnam's labor market. The study results show that the Vietnamese labor market faces many difficulties in both human and financial resources. The closure (total or temporary) of activities has increasingly enhanced job loss. According to a survey by the General Statistics Office (2020), there are 2900 businesses temporarily closed and 30.8 million workers are affected. These impacts both create opportunities for the market but also cause it to face other challenges. The article also offers solutions that the Government implements to help businesses overcome the crisis.