22-5-2023 (Bangkok) Thailand witnessed a drop in its unemployment rate to 1.05 percent in the first quarter of this year, down from 1.15 percent in the previous quarter, as its crucial tourism industry showed strong signs of recovery, according to official data released on Monday.
The National Economic and Social Development Council (NESDC) reported that this decline marked the lowest unemployment rate in three years. The country’s travel sector, which serves as a significant source of employment, continued to regain momentum, contributing to the positive trend.
The NESDC’s report revealed that the number of individuals in the labor force reached 39.6 million in the first quarter, representing a 2.4 percent year-on-year increase. This growth was primarily driven by expansions in both the agricultural and non-agricultural sectors.
The NESDC attributed the improved labor situation to the ongoing economic recovery and the sustained growth of the tourism industry, despite a slight reduction in employment within the manufacturing sector.
According to the report, working hours in the private sector experienced a 1.5 percent year-on-year increase, while the average wage saw a 1.3 percent rise compared to the previous year, indicating improved purchasing power.
The agency highlighted a demand for information technology-related jobs, ranging from 20,000 to 30,000 positions annually. However, there is a shortage of graduates in this field to meet the current demand.
The report also emphasized the potential impact of extreme weather conditions resulting from climate change on farm labor income, employment, as well as agricultural cultivation and output.
