THURSDAY, March 28, 2024
nationthailand

Covid-19 crisis leaves 870,000 people jobless in Thailand

Covid-19 crisis leaves 870,000 people jobless in Thailand

Thailand’s rate of unemployment has soared due to the Covid-19 fallout, with 870,000 people or 2.25 per cent of the working-age population left jobless, Danucha Pichayanan, secretary-general of the National Economic and Social Development Council (NESDC) said on Monday.

NESDC found that 3.63 per cent of the unemployed were those who had completed higher education, followed by vocational certificate holders at 3.16 per cent. Most of the unemployed are those who hold degrees in general fields like business administration and marketing. These graduates are likely to remain unemployed for a prolonged period due to limited economic expansion.

Meanwhile, youngsters aged 15-19 had the highest unemployment rate at 9.74 per cent, followed by 8.35 per cent of those in the 20-24 age range. This indicates the continuing impact of the pandemic, which has forced businesses to lay off workers.

There are also few jobs waiting at the entry-level for new graduates, as many businesses are monitoring the situation before they start recruiting again.

Overall, 37.7 million people in Thailand are still employed, marking a drop of 0.6 per cent from last year. However, the job scene in the agricultural sector picked up in the third quarter, with 12.7 million people getting jobs thanks to the start of the rice-planting season. This marks an increase of 1 per cent from the same period last year.

Meanwhile, the non-farming payroll has dropped 1.3 per cent, with lockdowns, controls on business hours and closure of workers’ camps bringing the construction and hotel/restaurant sectors down by 7.3 per cent and 9.3 per cent, respectively.

However, some jobs are still being created in the manufacturing, wholesale/retail and logistics/storage sectors, which grew by 2.1, 0.2 and 4.6 per cent, respectively.

Separately, nearly 900,000 people have temporarily lost their source of income, up from 470,000 people in the same period last year.

Five factors may affect the job scene soon, namely:

• Relaxation of epidemic control measures, reopening the country to foreign tourists and economic recovery

• Measures to help farmers suffering from the impact of floods

• An increase in the cost of living due to high oil prices

• Loss of skills owing to prolonged unemployment

• Assistance for the self-employed who are insured under Article 40 of the Social Security Act.

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