NESDC Reports Job Creation Recovers in Q3

[snoop1130]

 

BANGKOK (NNT) - The Office of the National Economic and Social Development Council (NESDC) has reported that job creation in the country improved during the third quarter (Q3). Still, the primary workforce continued to contribute to a high rate of non-performing loans (NPLs).

 

According to the NESDC’s report on employment and society in Thailand, approximately 39.6 million people were employed in the third quarter, a 2.1% increase from last year. A total of 27.2 million jobs were created in the agricultural sector during the third quarter, representing a 4.3% increase in employment. Employment also increased by 4.5% in the retail sector, 8.3% in hotels and restaurants, and 1.4% in manufacturing.

 

Concerning NPLs, the agency reported that the Credit Bureau monitored 25 million debtors in the loan system during the third quarter, with total NPLs amounting to 1.09 trillion, or 8.4%, a decrease from 8.6% (1.1 trillion baht) during the same period last year.

 

The NESDC Office stated that auto loans had an NPL rate of 6.5%, similar to the previous quarter and that people aged 25-42 comprised the largest group of NPL debtors with 340 billion baht of NPLs, or 92,000 NPL accounts. As the NPLs for this group indicated rising costs and interest rates, the agency recommended that the government considers implementing additional economic stimulus measures to increase the income of this group of debtors.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221216105112498

 

-- © Copyright NNT 2022-12-16

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[ThailandRyan]

Agriculture jobs...Rice harvesting, Corn etc.....wow that's almost half of the country's population.

[RichardColeman]

15 hours ago, snoop1130 said:

Still, the primary workforce continued to contribute to a high rate of non-performing loans (NPLs).

seems more people working but more still borrowing too much. Maybe better to have less in work and less money owed !!