Thailand
Thailand: Manpower sees 1.2% unemployment
US recruitment agency Manpower Group Thailand forecasts an unemployment rate in 2019 of 1.1-1.2%, equal to 418,000-450,000 people, up from 400,000 in 2018.
Thailand’s labour market in 2019 will face many external influences such as the global economy, the US-China trade war and Brexit.
“But a big change will come after the general election,” said marketing manager Suthida Kanjanakantikul. “Thailand has 38 million workers in an overall population of 65-70 million, but the current unemployment rate is still lower than in other countries, some of which have unemployment rates higher than 10%.”
Ms Suthida said Thailand has many developing projects to boost labour demand, such as the Eastern Economic Corridor (EEC) and the S-curve policy focused on technology and innovation.
“The 2019 unemployment rate is not such a high level for concern, as the rate is still healthy for the market,” she said.
In 2019, Manpower expects high-skilled workers to increase significantly as the local market restructures from relying on unskilled people to those with higher skills.
“The S-curve policy, involving 12 targeted industries, is increasing demand for workers with many capabilities,” Ms Suthida said. “Many educational institutes, universities and vocational schools have to improve their courses to match future demand in these industries.”
Manpower conducted a survey of 1,500 companies on demand for workers and found that the top three sectors with the highest demand are services (transport and logistics); retail and wholesale; and specific services and other consultants.
Simon Matthews, Manpower’s country manager for Thailand, the Middle East and Vietnam, said the overall economic situation is declining, as can be seen from China’s downturn and the current trade war.
For Thailand, the upcoming election has just been officially confirmed and the flagship EEC scheme is ongoing, so this period is worth monitoring because there may be many other external factors involved.
Mr Matthews said Thailand should prepare for any possible changes by promoting human resource development in terms of labour skills and education enhancement.
“The government has determined the national policy by focusing on S-curve industries to expand the original potential of business groups, so the business and industrial sectors should be prepared by improving their personnel knowledge and high-tech skills, which are in high demand at the present,” he said.
Mr Matthews said the growth rate of Manpower Group Thailand in 2018 was 12%, worth 4.5 billion baht, plus continuous technological investment to enhance effective service provision of Manpower.
Manpower Group Thailand is a subsidiary of Milwaukee-based Manpower Inc, which has over 4,000 offices in 82 countries and territories.
Wanchai Priboonbaramee, senior operations director, said the firm has continued expanding its services and innovative workforce solutions to be consistent with market demand, which has seen positive feedback from entrepreneurs, companies, industrial factories and workers.
Source: https://www.bangkokpost.com/business/news/1632338/manpower-sees-1-2-unemployment