Thailand warns risk of increasing jobless amid economic woes

Job seekers look at vacant positions at the Labour Ministry on Jan 2, 2020 (Photo: https://www.bangkokpost.com/)

The number of unemployed workers in Thailand reached 2.5 million in the first half of 2020, and will keep growing next year if state stimulus packages are not strong enough to battle economic woes, according to the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) of Thailand.

Supant Mongkolsuthree, Chairman of the Federation of Thai Industries, said the unemployment rate is expected to increase if the government's economic stimulus measures are not strong and many rehabilitation projects are delayed.

Many businesses, particularly those operating in tourism and export sectors, remain weak, though some have slowly recovered, he added.

Supant also expressed concern about a second wave of COVID-19 infections in the country as infection rates spike in many Asian countries, including Myanmar, which borders Thailand.

Kalin Sarasin, Chairman of the Thai Chamber of Commerce, said JSCCIB will ask the government to abandon some unnecessary laws and regulations in order to facilitate business operations.

Meanwhile, the Thai government has been promoting measures to create jobs, in the context that the country is trying to recover its economy from the effects of the health crisis.

The Thai Ministry of Labour has planned to create year-long jobs for 260,000 students graduating from universities and vocational schools. The budget for this plan is expected to be 23.47 billion baht (750 million USD).

According to the National Economic and Social Development Council of Thailand (NESDC), the country’s Gross Domestic Product (GDP) in the second quarter of 2020 decreased by 12.2 percent year on year, the sharpest fall since the 1998 crisis./.

VNA