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

[webfact]

Jack TAYLOR / AFP

 

Impacted by COVID-19 lockdown measures, about 870,000 Thais were jobless during the third quarter of this year, a record high, with college and university graduates accounting for 3.63%. Meanwhile, household debt increased 5% over the same period, compared to the second quarter.

 

Secretary-General of the National Economic and Social Development Council (NESDC) Danucha Pichayanan said today (Monday) that the overall labour market was hard hit by lockdown restrictions during the third quarter, resulting in the highest number of unemployed in a single quarter since the pandemic struck early last year.

 

A total of 37.7 million people were in employment during the third quarter, down 0.6% from the same period last year, but employment in the farm sector increased by 1% to 12.7 million, as the third quarter coincided with the rice cultivation season.

 

Full story: https://www.thaipbsworld.com/record-870000-thais-unemployed-in-q3-2021-household-debt-surges-5-nesdc/

 

-- © Copyright Thai PBS 2021-11-23

 

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[A1Str8]

Word on the street, Yingluck is about to create new jobs with a new rice scam. 

[RichardColeman]

From link ; The unemployed population represented 2.25% of the entire workforce. 

 

With no decent social services and unemployment benefits and 'real count, I call that total complete hogwash after losing 20% of their GDP jobs and further industry closures

[Captain Monday]

The cure is worse than the disease.

[michaelgoulden]

I read the full story from the link.I don't believe 0.01% of any of their figures.

There are so many ( by choice or not) that work outside of the system that they really have no idea who is unemployed. Every Thai person I know is unemployed,and that's from a 10 year accumulation of contacts,neighbours,family,friends,taxi drivers,7/11 employees,shops I buy from,hotels and home stays I visit. All around Thailand. Obviously not the big concerns.But regular Thais cutting a living.And I really mean everyone I know.Everyone in my soi.Everyone I know around Thailand.

And we know allot have gone back to the farms.But many don't have farms to go back to.They have been sold bit by bit leaving them nothing.

The unemployment in Thailand is massive,and their reserves are next to nothing.

They dont have the money to go back to Pattaya,this island or that,or where ever.They do not have the deposits to rent a room, even sharing! Or the confidence that tourism will happen to risk borrowing the  money to go back.

Forget covid 19.... 1000s of farms have been flooded.Loosing more income and denying self reliance from the food they produce even if they have a farm.

And they cannot afford the fertiliser ect so they grow what they can in season.The result is they are all growing the same produce rendering it worthless in the market!

Word spreads fast in Thailand as in all countries,They know all the nonsense regards Thailand pass and all the stupid details to get to Thailand.They know how hard and expensive it is to come to Thailand.They hate the government.And they clearly know they cannot survive without the rest of the world coming to their country.They know without tourism they are dead in the water.

The bottom line is they need support from their own communities,from us,from the government,from employers to kick start new employment. Support meaning they have nothing.Give them what support they need to get back to work.

       

 

[RichardColeman]

On the plus side my Thai landlord will be unlikely to successfully put my rent up without me A. moving out to a bigger and cheaper covid rent reduced house, or B. her trying to put it up resulting in it actually going down !

[rasmus5150]

And what about all the people living out in the "sticks", and people who are not officially registered?

These statistics are only scratching the surface - the problem is waaaay deeper, and it will take many years (if ever) before being back to "normal".

[mtls2005]

And yet ~ 400,000 foreign migrant workers are desperately needed, and scheduled to be imported before the end of the year.

 

Previously, Labor Minister Suchart Chomklin had reported on a survey by the Thai Chamber of Commerce regarding the need for foreign workers as Thailand recovers from the COVID-19 pandemic.

 

“The survey results on demand for foreign workers exceeded 400,000 positions,” the Ministry of Labor said in a news release on Wednesday.

 

 

So there are jobs, maybe  ~ 1.5 million, but...

 

 

[Boomer6969]

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%

[JayBird]

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 ????

 

[hotchilli]

4 hours ago, webfact said:

Impacted by COVID-19 lockdown measures, about 870,000 Thais were jobless during the third quarter of this year, a record high, with college and university graduates accounting for 3.63%. Meanwhile, household debt increased 5% over the same period, compared to the second quarter.

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

[mikebell]

4 hours ago, RichardColeman said:

The unemployed population represented 2.25% of the entire workforce.

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.

[GeorgeCross]

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.."

[thaibook]

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.

 

 

 

[Cake Monster]

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.

[vandeventer]

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.

[xtrnuno41]

Didnt i red just a couple of weeks ago, hotels in Chonburi couldnt get staf to run hotels?

They even could earn double on what was normal. 

 

[rickudon]

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.

[Isaan sailor]

Nope.  Try 20% unemployed, or higher.  Keep the pressure on the Baht.  Bring it down another 5%.  Open entertainment venues, and eliminate quarantines altogether.