Employment rises in Q1

Praphorn Praphornkul

 

 

BANGKOK, 7 June 2019 (NNT) - Despite the trade war, Thailand’s workers employment has risen due to the continual expansion of the public sector’s investment projects in this year’s first quarter.

 

National Economic and Social Development Council Secretary General Thossaphorn Sirisamphan reported that the employment has accounted for a 0.9% increase in this year’s first quarter from the same period last year. The employment in non-agricultural sector has increased 3.2%, the employment in construction sector has increased 10.5% due to the major investment projects while the employment in industry sector has risen 1% in the face of the world economic slowdown. The employment in hotel and restaurant sector has slightly dropped due to a decline in the number of foreign tourists. The unemployment rate has remained low at 0.9%, accounting for some 350,000 jobless people. However, employers have sought twice as many professional employees as job applicants.

 

Meanwhile, the household debt in last year’s fourth quarter rose 6%, accounting for 78.6% of the GDP, thus rendering a sustained increase in this year’s first quarter. Debt in individual credits provided by commercial banks rose 10.1%, the highest in five years, largely due to increases in house and automobile purchases.

 

-- © Copyright nnt 2019-06-09

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I would love to know how they extrapolate the figures for employment. 

Does anybody know any mechanism that exists to allow them to get to the figures mentioned?

7 hours ago, rooster59 said:

Thailand’s workers employment has risen due to the continual expansion of the public sector’s investment projects in this year’s first quarter.

Which begs the question: Why the continuation of government economic stimulus?

According to the government, the Thai economy is doing fine despite global economic disruption, despite the overpriced baht. In 2018 the government raised the daily minimum wage and tourism accounts now for 15-20% GDP to supplant some export loss value.

Then problem may lie with the direction of government economic policies:

Thai junta oversees strong but unequal economy

Military regime has prioritized infrastructure over welfare, a long-term emphasis that may cost it at the March 24 ballot box. https://www.asiatimes.com/2019/02/article/thai-junta-oversees-a-strong-but-unequal-economy/