Thai jobless rate dips in fourth quarter but remains near multi-year high

[snoop1130]

Thai jobless rate dips in fourth quarter but remains near multi-year high

 

FILE PHOTO: People visit the Job Expo Thailand 2020, as the country is offering one million jobs as part of the coronavirus disease (COVID-19) relief efforts, in Bangkok, Thailand, September 26, 2020. REUTERS/Soe Zeya Tun

 

BANGKOK (Reuters) - Thailand's unemployment dipped in the fourth quarter of 2020 from the previous three months as an easing of COVID-19 curbs prompted a revival in economic activity, but a recent uptick in infections poses a risk, the state planning agency said on Tuesday.

 

The unemployment rate was 1.86% in the October-December quarter, representing 730,000 workers without jobs, agency data showed, down from 1.90% in the September quarter. The rate hit an 11-year high of 1.95% in the June quarter.

 

"Employment increased slightly, while the unemployment rate remained high and working hours were still lower than pre-crisis levels," Danucha Pichayanan, head of the National Economic and Social Development Council, told a briefing.

 

The number of workers in Thailand's economy rose to 38.3 million in the fourth quarter of last year from 37.9 million in the previous three months. The rise took place mainly in the farm sector, which benefited from by higher crop prices and government projects.

 

But the jobless rate jumped to 1.69% last year from 0.98% in 2019, as Southeast Asia's second-largest economy suffered its deepest contraction in over two decades in 2020 as tourism slumped.

 

After managing to get its first coronavirus outbreak under control within a few months last year, Thailand is now dealing with a second wave of infections that has slowed economic activity.

 

The latest coronavirus wave would impact businesses that had not yet recovered from the first outbreak, risking job cuts, Danucha said.

 

"If the virus cannot be controlled, combined with delays in the distribution of vaccines, the impact on the labour market and employment will be severe in the long run," he said.

 

Thailand will start vaccinating priority groups, including health workers, against COVID-19 later this week, with the country's first coronavirus vaccines due to arrive on Wednesday.

 

-- © Copyright Reuters 2021-02-23

 

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[welshguy]

Ive always wondered,

 

How would they know how many people have lost their jobs?

 

I mean, in countries where eg. unemployment benefit, etc is paid. the government, would have a "better" idea of how many are unemployed and recently lost their jobs..........If no such benefits are paid,  how would they know how many people have actually lost their jobs?

 

Of course, many job losses may well be "recorded"...I assume though, many more jobs would have been lost, but not "recorded" to the government....eg, self employed people etc?

[KhaoNiaw]

Just now, welshguy said:

Ive always wondered,

 

How would they know how many people have lost their jobs?

 

I mean, in countries where eg. unemployment benefit, etc is paid. the government, would have a "better" idea of how many are unemployed and recently lost their jobs..........If no such benefits are paid,  how would they know how many people have actually lost their jobs?

 

Of course, many job losses may well be "recorded"...I assume though, many more jobs would have been lost, but not "recorded" to the government....eg, self employed people etc?

They do pay unemployment benefits to people in the social security system for a number of months. My daughter received around 6,000 baht per month when she was unemployed for a couple of months last year. They can keep track of anyone formally employed through tax and social security systems but that still won't cover a large number of employees.  

[welshguy]

2 hours ago, KhaoNiaw said:

They do pay unemployment benefits to people in the social security system for a number of months. My daughter received around 6,000 baht per month when she was unemployed for a couple of months last year. They can keep track of anyone formally employed through tax and social security systems but that still won't cover a large number of employees.  

 Thanks for that.

 

I didnt realise they gave unemployment benefits.

 

As you say though.....there are probably many more who werent formally employed.

 

Must be exceptionally tough for them, in these crazy times, if they have little, or probably in lots of case...no income.

[Caldera]

Isn't the real problem in the informal job market? Nobody really knows how many people are unemployed or at the very least underemployed.

 

[mfd101]

If in doubt, just ship them back to the village or the farm they came from. Then we can just forget about them ...

 

 

[Bradmeister]

15 hours ago, welshguy said:

Ive always wondered,

 

How would they know how many people have lost their jobs?

 

I mean, in countries where eg. unemployment benefit, etc is paid. the government, would have a "better" idea of how many are unemployed and recently lost their jobs..........If no such benefits are paid,  how would they know how many people have actually lost their jobs?

 

Of course, many job losses may well be "recorded"...I assume though, many more jobs would have been lost, but not "recorded" to the government....eg, self employed people etc?

You're absolutely right. They have no idea...