Tuesday, March 5, 2024

Thailand’s Unemployment Rate Hits Three-Year Low in First Quarter

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Thailand’s unemployment rate has fallen to its lowest level since the beginning of the COVID-19 pandemic, according to the National Economic and Social Development Council (NESDC). Employment increased by 2.4% in the first quarter of 2023 compared to the same period last year, driven by a recovery in the tourism sector, resulting in a 1.05% unemployment rate, down from 1.15% in the previous quarter. The NESDC attributed this to a relaxation of COVID-19 restrictions, the reopening of the country to international tourists, and government stimulus measures. The agency predicts that the unemployment rate will continue to fall, reaching 0.9% by the end of 2023. The government has pledged to support the labour market by creating new jobs and providing skills development programmes.

Source link : Thailand’s Unemployment Rate Hits Three-Year Low in First Quarter by Akanksha Singh

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