Economic Indicators

Thailand’s employment rises in Q4 on increased tourism

FILE PHOTO: A woman works in a restaurant in Bangkok, Thailand September 11, 2023. Thailand’s new government approved a raft of policies to lower the cost of living, suspend farmers’ debts, draw more tourists and boost incomes. REUTERS/Jorge Silva/File Ph

BANGKOK (Reuters) – Thailand’s employment rose 1.7% in the final quarter of 2023 from a year earlier, helped by the tourism sector, after a 1.3% year-on-year increase in the previous quarter, the state planning agency said on Monday.

Jobs in the hotel and restaurant sector rose 8% annually in the final quarter of 2023 as the number of tourists increased, the National Economic and Social Development Council said in a statement.

The jobless rate dropped to 0.81% in the October-December period versus 0.99% in the prior three months, the agency said.

Thailand’s definition of unemployment is narrow, however, and counts as jobless those who do not work a single hour in a surveyed week. Analysts say the figures do not catch Thailand’s significant unofficial economy.

In the fourth quarter of 2023, Thailand had a workforce of 40.7 million, up from 40.5 million in the prior quarter, the planning agency said.


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