Thai Q1 jobless rate at 12-year high amid virus outbreaks

[snoop1130]

FILE PHOTO: People wearing face masks as a measure to prevent the spread of the coronavirus disease (COVID-19) are seen at a train station in Bangkok, Thailand, January 7, 2021. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's unemployment rate hit a 12-year high in the first quarter of 2021 due to the renewed impact of coronavirus outbreaks, as the country reimposed measures to contain a third wave of infections, the state planning agency said on Monday.

 

The Southeast Asian country's latest, more severe outbreak has seen overall cases nearly quadruple since early April, and deaths increase six-fold.

 

The unemployment rate was 1.96% in the January-March quarter, representing 758,000 workers without jobs, up from 1.86% in the previous quarter, state agency data showed.

 

The rate was the highest since 2.08% recorded in the first quarter of 2009 during the global financial crisis.

 

"The unemployment rate increased drastically and is expected to rise again, reflecting the ongoing impact of COVID-19," Danucha Pichayanan, head of the National Economic and Social Development Council, told a briefing.

 

Unemployment slowed in the second half of 2020, when earlier outbreaks were contained before re-emerging this year.

 

The official definition of being unemployed in Thailand is quite narrow, including only those who do not work a single hour in a surveyed week and excluding those with a business or owning farms, while analysts note it does not catch the significant unofficial economy.

 

The prolonged COVID-19 outbreak may prevent the economy from growing as targeted as economic activity has slowed, Danucha said.

 

Last week, the NESDB cut its 2021 economic growth outlook to 1.5%-2.5% from 2.5%-3.5%, predicting only half a million foreign tourists after the new wave of virus cases. Thailand had nearly 40 million visitors in 2019.

 

The outbreak will delay a recovery in tourism, affecting more than 7 million tourism workers, Danucha said.

 

However, the number of employed workers reached 37.6 million in the March quarter, up 0.4% from a year ago due to higher employment in the agricultural sector, which has absorbed some of the workers laid off in other sectors since 2020.

 

-- © Copyright Reuters 2021-05-24

 

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[Chelseafan]

Plus the 43000+ or so in the 'entertaintment' industry....

[timendres]

In the US, 2% unemployment would be inconceivably low.

[ExpatOilWorker]

A month ago we had 6 million jobless out of a workforce of about 38 million or about 16%, but hey lets round it down to 1.96%.

 

https://www.thaipbsworld.com/six-million-thais-rendered-jobless-by-covid-19-pandemic-thaihealth/

Edited May 24, 2021 by ExpatOilWorker

[Stocky]

56 minutes ago, snoop1130 said:

The unemployment rate was 1.96% in the January-March quarter, representing 758,000 workers without jobs, up from 1.86% in the previous quarter, state agency data showed.

This is the figure for the formal jobs sector. Thai employment numbers never make any sense because there is no attempt to quantify the informal sector. A large part of Thailand's workforce is unaccounted, cash in hand, hand to mouth. That includes much of the tourist, entertainment and service sector - the part of the economy hardest hit by the pandemic. I'm sure this government is happy the real numbers never see the light of day.

 

.

Edited May 24, 2021 by Stocky

[Fex Bluse]

10 hours ago, timendres said:

In the US, 2% unemployment would be inconceivably low.

 

Thailand has neither the motivation nor infrastructure to capture the employment statistic with any meaningful degree of accuracy. Thais don't claim jobless benefits, for example, because, for most Thais, there are no such benefits. Most Thais still work in the informal economy as another example. 

 

There is no functional way for the government to capture employment statistics. They'd be wildly off - by tens of percent. 

 

Like, the unemployment rate or marginal employment rate might be on the order of 20 or 30 or 40%.

[morrobay]

52 minutes ago, Fex Bluse said:

 

 

 

Like, the unemployment rate or marginal employment rate might be on the order of 20 or 30 or 40%.

Indeed: paragraph 6, 'the official definition of being unemployed includes those who do not work one hour per week' So working one hour/week counts as being employed

 

[hotchilli]

14 hours ago, snoop1130 said:

The unemployment rate was 1.96% in the January-March quarter, representing 758,000 workers without jobs, up from 1.86% in the previous quarter, state agency data showed.

No need to read beyond this statement... anyone who thinks Thailands unemployment rate was that low must be on drugs, or need them.

[Raphael Hythlodaeus]

17 hours ago, timendres said:

In the US, 2% unemployment would be inconceivably low.

Sure, if the Thai unemployed number is correct. How do they count the numbers in the informal sector who don't pay tax?

[ujayujay]

This rate is pure fantasy????

Edited May 25, 2021 by ujayujay

[smiggley]

Where do they get these figures from? There are more than 788000 unemployed in the entertainment industry alone and I remember reading more than 2 million in the tourism and hotel industry.

[zhounan]

Quote

Thai Q1 jobless rate at 12-year high amid virus outbreaks

 

amid political decision

 

[zhounan]

The unemployment rate in Italy is over 10%

 

[RichardColeman]

3 hours ago, Raphael Hythlodaeus said:

Sure, if the Thai unemployed number is correct. How do they count the numbers in the informal sector who don't pay tax?

Pretty sure if they counted those that don't pay any tax as unemployed - or under utilized - Thai unemployment would be well over 50%