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Record 870,000 Thais unemployed in Q3 2021, household debt surges 5% – NESDC


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Hmmh.. 2.25% maybe right in some central provinces? But they should come to Isaan and count all the useless, fat, drunk and stoned males, sitting all day long under the sala quacking falang, falang, falang...

 

IMHO the count would be more like 30%

Edited by Boomer6969
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I think the way the count unemployment is odd.

 

This may apply mainly to full time office workers, etc.

 

Many people are classified as farmers.  So do not count.  Even if they are not farmers!

 

Government classified my gf as a farmer, despite never being on a farm in her life 😛

 

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45 minutes ago, mikebell said:

Of the 97.5% employed, how many of them work?  Went to Powerbuy on Saturday.  Walked all round the shop surrounded by TVs/kitchen white goods. Decided on my purchase.  My GF & I walked all round the deserted shop shouting for service in vain.  We left emptyhanded.

count yourself lucky i can't walk past a TV in one of thise places without being ambushed by 10 of them.. "discount na khrap.."

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As in all countries, the unemployed are people who register to be employed.  Those who sit around complaining but doing nothing and not registering are not counted.  In which country is it different?  If people wish to work in the black economy then it is up to them to find employment.  In the taxed economy there are jobs available as employers have persuaded the governemnt to allow 400,000 immigrants to come to work.

 

If you prefer to work in the black economy to pay no taxes and no social security contributions you should not then complain if you lose your job and the government does not help you as much as you would wish.

 

Those who are not on the tax or social security registeres are probably those termed farmers, irrespective of what they actually do or do not do.

 

The 37.7 million are those registered to pay taxes, although the low paid will not need to pay any.  This is down about 200,000 on last year.  

 

Manufacturing output has grown this last year as has construction so companies in these sectors are still growing and employing more people.  But I suspect not many TV readers know factory or construction site workers.  

 

On my twice weekly drives in Pak Kret I see new small developments with retail units below and offices upstairs.  They are being occupied and are attracting business.  For someone with enterprise this may be a good time to start a business, as rents are low, although not one catering largely/exclusively to foreigners with farang prices.

 

 

 

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6 hours ago, webfact said:

Meanwhile, household debt increased 5% over the same period, compared to the second quarter.

This will mean that the Household Debt is now running at ( I think ) 94 % of GDP.

The BOT,s efforts to reign in this Debt have obviously failed miserably, as more and more Companies are lending on unsecured Debt.

And of course not to forget that this is the Debt that is recorded through legit Lending Services.

The Black Market / Loan Shark debt will be equally as high, if not more

Not a good situation for the Country to be in, where the potential to repay Debts is very low.

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4 hours ago, hotchilli said:

I bet unemployment is nearer 10% -15% and that's being conservative.

The people that have a job are doing a lot more work for the same pay, and these are both private company's and government jobs. When will it all end? When people and government's stop being Greedy.

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One-third of workers are considered 'self-employed', i.e. work in the informal economy. Also you only get unemployment benefit for 6 months (if you qualify, you have to have made social fund quantributions as an employee) - after that not sure you are counted....

Graduates - we have 3 nieces and nephews who have graduated in the last 2 years - none of then have found proper jobs. One kills chickens for his father, one is a shop assistant in the wife's shop, the other makes burgers and salads to sell in the market. All informal, no-one earns more than 300 baht a day and in reality just sharing work with their family 'employers'. Only one in my extended family is a registered employee, a teacher.

 

And how many people actually pay income tax? Just 3 million, or under 5% of the population. There is a vast sector of the population who are 'under-employed' because they are part-time, seasonal or day labourers. And a lot of employed people are on minimum wage.

 

So there is a vast pool of untapped labour. On minimum wage, if living in a city, paying rent, transport and buying all food, they are hardly better off than staying in the village doing just an occasional bit of work.

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