Thailand: Brighter employment figures proof of recovery, claims govt

Thailand’s economy shows sign of recovery, following a dip in unemployment to its lowest level since the start of Covid-19 pandemic.

Deputy government spokeswoman Traisuree Taisaranakul said on Saturday the number of people unemployed in July had fallen once again and set another marker in the country’s recovery from both the Covid-19 pandemic and an economic slump.

Based on National Statistical Office figures, of the 40 million people in the workforce, 514,000 are currently seeking employment.

The number dropped from 580,000 in June, while the highest recorded rate of unemployment was 870,000, or 2.25% of the work force, in the third quarter of 2021.

The number of working hours per week in July also increased, indicating that workers salary levels were normalising, added Ms Traisuree.

The number of people working 35-49 hours per week stood at 26.8 million, an increase from 26.75 million in June, while the number of those working 50 hours or more per week stood at 7 million, a rise from 6.52 million in June.

The number of people putting in less than 35 hours per week stood at 5.67 million, a drop from 6.63 million in June.

Meanwhile, applications for investment in the first six months of 2022 rose 4% from a year ago following the easing of Covid-19 restrictions, said deputy government spokeswoman Rachada Dhnadirek.

Thai and foreign companies filed a total of 784 applications for investment during January-June this year worth a combined value of 219 billion baht, she said.

Of these, 217 applications with a total investment value of 100 billion baht were in the in the Eastern Economic Corridor (EEC) including Columbia Pictures’ Aquaverse Movie Theme Park which is scheduled to open in Pattaya on Oct 12.

With a million tourists expected to visit each year, the Aquaverse, a 35-rai plot developed by Sony Pictures Entertainment and Amazon Falls, will generate 10 billion baht, she said.

Source: https://www.bangkokpost.com/business/2394193/brighter-employment-figures-proof-of-recovery-claims-govt