Thailand's unemployment rate falls in Q4

Thailand's unemployment rate in the final quarter of 2022 dropped to its lowest level since the COVID-19 pandemic due to a rebound in the tourism sector, the state economic planning agency said Thursday.

The Southeast Asian country's unemployment rate fell to 1.15 percent, representing 460,000 jobless workers, from 1.23 percent the previous quarter, data from the Office of the National Economic and Social Development Council (NESDC) showed.

The reading was the lowest since a jobless rate of 1.03 percent was recorded in the first quarter of 2020, before the COVID-19 pandemic began to hammer the economy.

During the October-December period, employment increased 1.5 percent from a year earlier, slower than a 2.1 percent rise in the third quarter of 2022, due to an increase in service sector jobs, particularly hotels and restaurants, despite a contraction in the agricultural sector, NESDC chief Danucha Pichayanan told a news conference.

In 2022, employment rate improved to pre-pandemic levels, with 39.22 million people employed in the workforce, while jobless rate was recorded at 1.32 percent, higher than pre-pandemic levels, Danucha said.

Looking ahead, as foreign tourists are expected to reach 28 million this year, he said that an additional 10,000 workers were needed to meet the tourism sector's demand.

Copyright @Kunming Information Hub 2019. All Rights Reserved. E-mail:inkunmingnews@gmail.com