Thailand sees various new minimum wage rates go into effect
- Champa Ha
With new minimum wage rates applied across Thailand, Phuket will see a daily wage of 370 baht (US $10.67), the highest across 17 groups of provinces across the country.
The minimum rates came into effect following approval by the Thai Cabinet, reported state news agency NNT. The decision on the different rates across the different groups came after much deliberation and calculations carried out by the Wage Board and Committee to ensure a fair and sustainable adjustment, without adverse effects on the economy. The wage rates, according to Phuket News, reflect variations in living costs and economic conditions across different provinces.
After Phuket, regions in Group Two like Bangkok, Nakhon Pathom, Nonthaburi, Pathum Thani, Samut Prakan and Samut Sakhon, with a new minimum wage rate of 363 baht (US $10.47), a 10 baht (US $0.29) difference from the previous rate.
Regions in Group Three (Chonburi and Rayong), will see a new minimum wage rate of 361 baht (US $10.41), with a seven baht (US$0.20) difference from before.
The government believes that the increased minimum wage will allow employees to earn a fair income while not exacerbating inflation or impacting product prices.
In a press statement, Settha Thavisin, Prime Minister and Minister of Finance, acknowledged the importance of regular wage reviews, with an announcement of plans for a meeting later this month to establish a subcommittee tasked with refining the minimum wage calculation formula further.
READ MORE: Wage increases top on wishlist for employees in South Korea
The objective is to present a comprehensive plan to the Cabinet by March, ensuring that the wage rates are tailored to the specific needs of each district and occupation, he said. Thavisin reiterated the government’s goal of enhancing the quality of life for employees nationwide and that the upcoming adjustments will contribute to a more equitable and prosperous society, a significant step toward fostering economic stability in Thailand.
