Thailand hits record low unemployment levels

THAILAND: Higher employment numbers in across the economy helped to bring Thailand's unemployment rate for the first quarter back down to its lowest levels since the start of the pandemic.

According to the National Economic and Social Development Council (NESDC), the unemployment rate fell to 1.53% in the first quarter of 2022. This translated to a total of 610,000 jobless people, down from the 632,000 recorded in the last quarter of 2021, and 871,000 in the third quarter of 2021.

The total workforce in the first quarter of this year remained at 39.6 million, an increase of 2.3% from 38.7 million in the same quarter of last year.

NESDC secretary-general Danucha Pichayanan stated that the agricultural sector employed 11.4 million workers, with the 3% increase coming alongside higher crop production. The non-farm sector also registered a 3% increase, with the employment of 27.3 million workers in total.

Danucha, however, cited the need to monitor the number of unemployed people who had no work experience, which rose to 260,000 individuals in the latest report. He added that the country also had to watch the impact of inflation on labour costs and employment.

"The issues that should be monitored in the remaining seven months include the fragile global economy which still faces a spate of risks, especially from the ongoing Russia-Ukraine war and supply chain disruption caused by China's zero-Covid policy," said Danucha.

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