Thailand’s unemployment rate to go below 1%

[webfact]

Thailand’s unemployment rate to go below 1%

 

 

BANGKOK: -- Thailand's unemployment rate is decreasing gradually with expectation that it will drop to below one percentage point from 1.3% in the past five years.

 

This was revealed by the Center for Economic and Business Forecasting, the business research arm of the University of Thai Chamber of Commerce (UTTC) which has conducted studies of employment situation in the country.

 

Dr Thanawat Phonwichai, director of the research center, said  Thailand’s employment rate has risen gradually in line with the economic recovery of the country.

 

He said during the past five years Thailand recorded a low unemployment rate of only 1.3%.

 

But he forecasted that  the unemployment is improving gradually as economy recovered.

 

He said if the economy is fully recovered,  the unemployment rate is likely to drop below one percentage point, considered to be among the countries with lowest unemployment rates.

 

Meanwhile Thailand is facing labour shortage and the country needs to depend on over three million migrant workers.

 

Despite the low rate of unemployment, workers still need to adjust themselves as every industry is likely to require workers with more skills in the future when Thailand is moving towards Thailand 4.0 strategy.

 

Full story: http://englishnews.thaipbs.or.th/thailands-unemployment-rate-go-1/

 

-- © Copyright Thai PBS 2017-05-02

[champers]

Seems unfeasibly low, but best not to question the generals.

[worgeordie]

It will  spike again when they remove all the street food sellers in Bangkok.

regards worgeordie

[jaltsc]

"Thailand's unemployment rate is decreasing gradually with expectation that it will drop to below one percentage point from 1.3% in the past five years."

 

That must mean that all those men who lie around all day drinking Lao Cao, playing cards, and watching muay Thai on TV, while there wives are working are considered gainfully employed. 

[bdenner]

Obviously calculated by the same "department of statistics" who report the road toll (deaths) = only those who die at the scene, not counted are the unfortunates who die of injures some time later. In this case they surveyed the girls in Soi Cowboy and counted those who seduce a punter during their shift last night to calculate the unemployment rate.

[Lupatria]

No wonder with millions selling street food, sex, or driving motorbike taxis

[williamgeorgeallen]

i wonder how the unemployment rate is calculated. can just count up all those on the unemployment benefit. anyone got any ideas how it is guesstimated? 

[PatOngo]

28 minutes ago, williamgeorgeallen said:

i wonder how the unemployment rate is calculated. can just count up all those on the unemployment benefit. anyone got any ideas how it is guesstimated? 

Watching rice grow is gainful employment

[IamNoone88]

I think not.

[SOUTHERNSTAR]

Well I am a 55 year old male and I declare I am pregnant. That however doesn't mean it is true. They declare a 1,3% unemployment rate which is fake and says the unemployment will improve as the economy recover, but the fact is there is no recovery.

[clockman]

As there no transparency in any sector. You may as well consult the fortune teller?

[phantomfiddler]

Who are all those people I see lounging around town ? I guess there are different definitions of work. I was sitting outside a bar a few years ago and a policeman walked up and said "You own a property in Thailand, therefore you are working, and since you do not have a work permit you must give me 50,000 Bht right now or you are going straight to jail". Needless to say it was a friday late evening, so what choice does one have but to pay when accused of "work" !

[tso310]

I know plenty of Thais without regular work. As far as I am aware no government agency knows about them. Itinerant working is fairly common in lower Isaan.

[DrTuner]

Sure, because breathing will be classified as gainfully employed.

[DavisH]

4 hours ago, jaltsc said:

"Thailand's unemployment rate is decreasing gradually with expectation that it will drop to below one percentage point from 1.3% in the past five years."

 

That must mean that all those men who lie around all day drinking Lao Cao, playing cards, and watching muay Thai on TV, while there wives are working are considered gainfully employed. 

No, it just means the majority of the populace are not actively seeking work:) How else can they manage close to 1% unemployment. It's all BS. The implication is that university graduate are almost guaranteed employment and that's far from the truth. 

[DavisH]

3 hours ago, williamgeorgeallen said:

i wonder how the unemployment rate is calculated. can just count up all those on the unemployment benefit. anyone got any ideas how it is guesstimated? 

There's no census (that's how Australia get's their rate - and if you do one hour of work a week you are considered employed), and no formal social security / welfare payments. So I doubt their figures are reliable. 

[KKr]

1 hour ago, phantomfiddler said:

Who are all those people I see lounging around town ? I guess there are different definitions of work. I was sitting outside a bar a few years ago and a policeman walked up and said "You own a property in Thailand, therefore you are working, and since you do not have a work permit you must give me 50,000 Bht right now or you are going straight to jail". Needless to say it was a friday late evening, so what choice does one have but to pay when accused of "work" !

refuse to pay and call a tough lawyer, what else.

[doctormann]

11 minutes ago, DrTuner said:

Sure, because breathing will be classified as gainfully employed.

 

Absolutely, as will playing on the mobile phone while, allegedly, being employed in 7-11 or Homeworks, etc.

 

I do wonder just what percentage of the approximately 99% of people in employment are actually gainfully employed, rather than just being a waste of space!

 

[seadigital]

3 hours ago, williamgeorgeallen said:

i wonder how the unemployment rate is calculated.

I suppose if you're trying to attract foreign investment it's nice to be able to say we have 0% unemployment. Some call it news, some call it spin; I don't know what to believe. Perhaps I should go out on a limb and 'TRUST' on good faith?

[lujanit]

If the Thai Government offered unemployment benefits tomorrow the rate would jump to 20% within 24 hours

[Jackin1960]

They could at least lie by using a figure that is plausible. 

[seadigital]

I just read some articles about chain snatchers in Pattaya. I think they're gainfully employed as thieves. Unemployed woman are counted as gainfully employed if they bat their eyelashes at a farang. & the water buffalo is gainfully employed standing in the grass. 

What's the problem? I see their math! If you're not employed this lifetime, we'll retroactively count your last lifetimes work; just for the employment report, not for retirement benefits or any of that nonsense. 

 

[Happyman58]

2 hours ago, DrTuner said:

Sure, because breathing will be classified as gainfully employed.

Thais would have to be the laziest workers in the world I see Many men just walking round doing nothing 1.3% hey More like 20.3 %

[BuaBS]

That's like the below 6 % unemployment in the US . HaHa

[mommysboy]

It's amazing!  It's Thailand!

 

Yet I Iive in Thailand.  What I see around me is not indicative of some economic miracle in progress.

 

 

 

 

[impulse]

7 hours ago, williamgeorgeallen said:

i wonder how the unemployment rate is calculated. can just count up all those on the unemployment benefit. anyone got any ideas how it is guesstimated? 

 

There's 40 million citizens of working age, and 39.6 million workers, so the unemployment rate is less than 1%.  

 

I think they struggle a little with the fact that 5-10 million of those workers are Cambodian, Laotian and Burmese, but they have 99 jobs for every 100 working age Thai's.

 

And yes, I used the anal extraction method to come up with those numbers.  Pulled fresh from my butt.

[wow64]

With economy in ful recovery and almost zero unemployment how is there such high levels of poverty? Ie the guy that just tried to kill his daughter due to extreme poverty. 

 

 

[George Feedback]

Going to be a lot of unemployed street food sellers and hungry employed office workers in Bangkok very soon...

[George Feedback]

11 hours ago, williamgeorgeallen said:

i wonder how the unemployment rate is calculated. can just count up all those on the unemployment benefit. anyone got any ideas how it is guesstimated? 

You got it right: guesstimated.

They don't have a clue, but a high percentage are self employed making "just enough".

If they calculated on taxpayers v working age population I'd bet it would show 30%.

Look at the stats TAT come out with.

[wakeupplease]

Now I have to admit that is impressive. So can anyone tell me what an unemployed gets here as I have a Brother in law who has never done a days work in his life. He steels Cigs, Booze and money to buy drugs from his dads (90 years of age who gets up at 5am every morning to open the shop). My wonderful Brother In Law seems to think he is the boss and even nicks my car which he drives (when we are not there) into the ground with new front suspension and engine rebuild as soon as I arrived this year.

 

But me being me says not a lot as do not want to cause a problem until in front of me he threatens to kill my wife hours after she bought him a new Samsung mobile telephone. (Top Of The Range and better than I had). The Brit got upset at this and introduced Brother In Law to the facts of life. You kill my wife only after I sort your head out. He ran like a little pig, but I caught him say no more.

 

What I would like to know is can this piece of garbage get support from the government as I am fed up with him and his big I am's which for some unknown reason do not now show when I last visited.

 

PS sold the car and all belonging there and will never visit again sadly as love the place but stuff the uneducated culture I am better off in Cambodia. Laos and Vietnam where BullS>>> is of the lower level. and more of his kind do not try and take my money.

 

Love to hear from you on this, keep well have a good day.