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Thailand experiences jobless recovery

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Thailand experiences jobless recovery

By The Nation

 

The unemployment rate in the third quarter rose by 1.2 per cent, higher than the 0.9 per cent increase in the third quarter last year, said Porametee Vimolsiri, secretary general of the National Economic and Social Development Board, a state think-tank agency.

 

Overall employment declined by 1.6 per cent to 37.6 million, down from 38.3 million in the same period last year, he reported on Thursday.

 

The drought in July and August caused severed damages to crops, fisheries and livestock in many provinces, contributing to a 1.2 per cent employment decline in the farm sector, said the NESDB.

 

A 1.8 per cent decline in employment in non-agricultural sectors was caused by two main factors. First, firms continued to employ advanced technology in both production and business processes. Also, the nation’s growth in exports was focused on capital-intensive industries, such as electronics, automobiles and chemical products industries. In contrast, labour-intensive industries such as textiles and clothing had witnessed a slowing of export growth, with some products still sitting in inventory.

 

“Manufacturing sector continued to use their old production facilities and did not employ new workers, although exporters had exported more products in the third quarter,” said Porametee. Employment should increase next year if the economy continued to expand at a similarly high rate to this year, he said.

 

Thailand’s economy expanded 4.3 per cent in the third quarter, higher than had been expected by the market, but lower than the growth enjoyed in many other Asean countries.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30333422

 
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-- © Copyright The Nation 2017-12-7

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The unemployment figures here are hugely misleading to say the least. The government says that it has almost total employment...that is a load of BS. You are employed if you pay tax in most countries. Most here are too lazy or to useless to be employed in the real definition of the word and the person selling fried sausages on the side of the street is not employed in the traditional sense. They sure massage the figure so well here...pfft.

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2 hours ago, coulson said:

 

Wt* is this story actually about?

This story was brought to you by the Thai Department of Stealth and Total Obscurity.

 

They also produce tourist arrival and expediture stats.

 

Or it could just be total bo**ocks.

 

I opt for the later option.

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I thought they said a few months back there was 0% unemployment???

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6 hours ago, coulson said:

Headline, unemployment down, intro unemployment up, main story unemployment is down overall, (segue into post disaster economic recovery) manufacturing not hiring, however exports are up......but not as good as neighbouring Countries.....

 

Wt* is this story actually about?

The pretence of doing work for which they are paid, which actually consists of no more than moving figures up and down a little bit in line with the "things are getting better" mantra every quarter... 

Edited by kaorop
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9 hours ago, Sir Dude said:

The unemployment figures here are hugely misleading to say the least. The government says that it has almost total employment...that is a load of BS. You are employed if you pay tax in most countries. Most here are too lazy or to useless to be employed in the real definition of the word and the person selling fried sausages on the side of the street is not employed in the traditional sense. They sure massage the figure so well here...pfft.

No, most people pay tax one way or the other (dividend tax, VAT, profit tax, etc).

 

You are unemployed in most countries when you have been actively looking for work for a certain number of weeks, are currently not working, and are available for work.

 

In Thailand people do not look for a job for a couple of weeks in a row because they normally have little savings and don't get government handouts. They take any job they can meaning they are not offically unemployed.

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No, most people pay tax one way or the other (dividend tax, VAT, profit tax, etc).

OK...I should have said income tax for those unable to infer.

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Something needs to be done about this, how can the average labourer afford a Richard Mille watch if they are unemployed?

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7 hours ago, kaorop said:

The pretence of doing work for which they are paid, which actually consists of no more than moving figures up and down a little bit in line with the "things are getting better" mantra every quarter... 

Just imagine how good those "reported figures" are going to look 3 months before election (whenever that will be !).

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