Bloomberg: Thailand has one of the lowest unemployment rates

[Rancid]

I've noticed a few references to supposed BS statistics, they may well be but of course this doesn't happen in the West does it? Some of you guys read so much home media propaganda you are actually believing it.

Why all the slanging of Thailand that doesn't even have real welfare like our Western Nanny states? No job no money, hard core capitalism, not socialism.

Look at the US (Europe probably worse) , more than half the population receives some form of welfare. When they count the unemployed as soon as they've been that way for long enough they just don't count them any more! You couldn't make that stuff up, talk about creative accounting.

And what jobs there are, where are they? PHDs flipping hamburgers. And we see the student debt going through the roof with no jobs at the other end. And whole cities like Detroit are falling apart, pensions can't be paid, trillions in debt, and you are having a go at Thailand? Bizarre.

[Alwyn]

"Bloomberg said the unemployment rate was due to structural problems rather than differences in defining the term 'unemployment'. " eh? You know it's bullshit when they saying how the low employment rate is due to problems? Or did he mean to say "the totally inaccurate and bullshit unemployment rate figure was due..."

[nidieunimaitre]

I've noticed a few references to supposed BS statistics, they may well be but of course this doesn't happen in the West does it? Some of you guys read so much home media propaganda you are actually believing it.

Why all the slanging of Thailand that doesn't even have real welfare like our Western Nanny states? No job no money, hard core capitalism, not socialism.

Look at the US (Europe probably worse) , more than half the population receives some form of welfare. When they count the unemployed as soon as they've been that way for long enough they just don't count them any more! You couldn't make that stuff up, talk about creative accounting.

And what jobs there are, where are they? PHDs flipping hamburgers. And we see the student debt going through the roof with no jobs at the other end. And whole cities like Detroit are falling apart, pensions can't be paid, trillions in debt, and you are having a go at Thailand? Bizarre.

Slagging off Thailand???

Believing Western propaganda???

Please name the posts in this thread that do this.

[phoenixdoglover]

Bloomberg - March 2015: Unemployment Rate in Thailand Under 1% *

* Thanks for clicking on our article. We realize the unemployment number reported by the central bank of Thailand is ridiculous, but it makes for an amusing conversation around the water cooler, and we are desperate for web site revenue.

[Srikcir]

Increase in GDP growth is usually heralded by a decrease in unemployment (Okun's Rule). Conversely, a decrease in GDP growth is led by an increase in unemployment.

Thailand has been experiencing since end of 2013 and throughout 2014 decreases in GDP growth while unemployment remains virtually flat. But unemployment should be increasing. The anamoly may be due to false unemployment criteria.

For the decreases in GDP growth the nation's unemployment should be about 2% and rising. This would fuel inflation and indeed 2015 is predicted to have an increase in the inflation rate to 1.8%-2.5%. That would confirm a 2% unemployment rate. When you consider that Thais are being exported to countries like Israel, Norway, Saudi Arabia, and Russia to find work, one must conclude they would otherwise be unemployed in Thailand!

[luangtom]

Bloomberg never did say why so many Thais are seeking overseas employment instead of working where, per Bloomberg, anyone that wants a job can get a job. It is all very confusing.....said with sarcasm.

[bangon04]

"Thailand has one of the lowest unemployment rates"

and the productivity rates?

[Xircal]

if they did bring in unemployment benefits....The rate of unemployed would instantly rise to 100% unemployed.

Considering the pension here is just 500 baht per month, just how much do you think any government's generosity to the unemployed would rate? And would it persuade anyone capable of earning their own living, to get down to the local Unemployment Exchange. I'm guessing it wouldn't be worth the price of the gasoline used to take them there.

I am aware (and have pointed out to various workmen who have complained about the measly pension here) that many in Thailand, particularly the overwhelmingly self employed, pay no tax. However. Given how it is routinely salted away by whomsoever's snout is in the trough, (given which soever administration), I'd be loath to pay it too if I were one of the small shopkeepers', for instance, who do indeed pay tax and resent where it very often ends up.

There is a pension scheme for which the monthly payout is higher than the figure you mentioned, but it's only for civil servants: https://www.gpf.or.th/eng2012/about_thaipension.asp

Also, the National Savings Fund (NSF) quoted in that article - which incidentally, didn't come into force until this year - only applies to employees registered with the social security fund: http://englishnews.thaipbs.or.th/national-savings-fund-wins-primary-endorsement

Everyone else seems to have been left out in the cold.

[daveAustin]

So are monks and ladies of the night counted as being employed? That's hundreds of thousands of people. Also, it generally takes three people to do a one man job here. Off tangent I know, but just sayin.

[joesanunu]

How are the number of monks classified?

Scammers?

[BKResort]

Great! The Government is counting men taking care of its lovers like employees..and with a lot of overtimes.

[godden]

When you see the delivery truck pull up and yo see 3 or 4 guys get out to help, you can't help but think in Europe or the USA, this would be a 1 man job.