Thailand’s employment growth moderates in Q2’2023

Thailand’s employment landscape witnessed reduced growth during Q2’2023, influenced by agricultural challenges stemming from drought conditions, even as the crucial tourism sector experienced a resurgence with an influx of international visitors.

According to the National Economic and Social Development Council (NESDC), Thailand’s labour force amounted to about 39.7 million individuals during the period spanning April to June, marking a 1.7% year-on-year increase. This figure indicated a reduction in the pace of expansion compared to the preceding quarter, which had seen employment growth at 2.4%.

The recent growth was propelled by the non-agricultural sector, particularly evident in an 11.7% surge in employment within the hotel and restaurant industries in comparison to the previous year. The NESDC’s report attributed this rise to the nation’s domestic economic recovery alongside the resurgence of inbound tourism.

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However, a contrasting trend was observed within the agricultural sphere. Employment figures within this sector experienced a 0.2% decline year-on-year, totalling 11.6 million jobs. This setback was attributed, in part, to the adverse effects of droughts, which were closely linked to the El Nino weather phenomenon.

The NESDC data also highlighted that Thailand’s unemployment rate registered at 1.06% during Q2’2203, indicating a slight uptick from the 1.05% recorded during the initial three months of 2023, reported The Sentinel.