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Thailand’s unemployment rate falls in Q4

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Bangkok, March 3 (IANS) Thailand’s unemployment rate in the final quarter of 2022 dropped to its lowest level since the Covid-19 pandemic due to a rebound in the tourism sector, the state economic planning agency said.

The Southeast Asian country’s unemployment rate fell to 1.15 per cent, representing 460,000 jobless workers, from 1.23 per cent the previous quarter, data from the Office of the National Economic and Social Development Council (NESDC) showed on Thursday.

The reading was the lowest since a jobless rate of 1.03 per cent was recorded in the first quarter of 2020, before the Covid-19 pandemic began to hammer the economy, Xinhua news agency reported.

During the October-December period, employment increased 1.5 per cent from a year earlier, slower than a 2.1 per cent rise in the third quarter of 2022, due to an increase in service sector jobs, particularly hotels and restaurants, despite a contraction in the agricultural sector, NESDC Chief Danucha Pichayanan told a news conference.

In 2022, employment rate improved to pre-pandemic levels, with 39.22 million people employed in the workforce, while jobless rate was recorded at 1.32 per cent, higher than pre-pandemic levels, Danucha said.

Looking ahead, as foreign tourists are expected to reach 28 million this year, he said that an additional 10,000 workers were needed to meet the tourism sector’s demand.

–IANS

int/khz/

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