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'Thai unemployment at nearly 10 per cent' due to Covid-19

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Wave, what wave of WuFlu are we talking about. It’s a ghost wave that never existed in the first place. Military coups never work in the long run—generals don’t know squat about running an economy and this whole fantasy is about control. Take that to the bank.

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11 minutes ago, spidermike007 said:

Thailand was already reeling from a massive decline in the quality of tourism, and poverty rates are climbing under this tremendously untalented administration, which totally lacks concern for the masses. 

 

Mike, as much as I despise the current government I take issue with the idea that the peoples' woes are largely the fault of the current administration. I advise people who believe this to have a go at something more on-the-ground by running a business and finding responsible employees. You'll quickly realize that the predicament of "the masses" has its origins much closer to home.

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Same as my other reply , let the government provide a lot of those without a job a job to clean up the country's beaches , roads , streets . There is enough to be cleaned if you look around . 

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40 minutes ago, spidermike007 said:

 

 

Between 2015 and 2018, the poverty rate in Thailand increased from 7.2 percent to 9.8 percent, and the absolute number of people living in poverty rose from 4.85 million to more than 6.7 million. The increase in poverty in 2018 was widespread - occurring in all regions and in 61 out of 77 provinces. In the Central and Northeast, the number of poor increased by over half a million in each region during the same period. The conflict-affected South became the region with the highest poverty rate for the first time in 2017.

 

https://www.worldbank.org/en/news/press-release/2020/03/03/thailands-poverty-on-the-rise-amid-slowing-economic-growth

 

One of the main reason for this sudden increase in poverty was the termination of the rice subsidies. 

 

It hit millions of small farmers very hard. 

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Posted (edited)
32 minutes ago, Genmai said:

 

Mike, as much as I despise the current government I take issue with the idea that the peoples' woes are largely the fault of the current administration. I advise people who believe this to have a go at something more on-the-ground by running a business and finding responsible employees. You'll quickly realize that the predicament of "the masses" has its origins much closer to home.

This is true. 

 

When I was managing a company in Bangkok during the previous decade, I spent a considerable amount of time recruiting... not to increase the staff, but to replace those who were leaving for trivial reasons (my uncle is sick, and the likes). 

 

All of them had university diplomas, but very little sense of responsibilities. 

 

It felt more like managing a classroom than an office. 

Edited by Brunolem
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Well as the Thai Gov like to use figures lets put it out there. End of 2019 they said they had a unemployment rate of 0.7%. Now they report 9.6%. So keeping it to a level they can understand, since 2019 there has been a 1200% increase in unemployment.  Does this include Thai migrant workers in South Korea, Japan and other countries? That figure maybe without migrants that may not have jobs to return to. 

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It’s the poor people that are running around trying to survive

the others it’s just another day

give it 6 months and it will hit the poor very hard and the rest will continue to get by. 

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In CM It appeared to me to be at 70% pre C-19, with one person in each family working to support the others. 

Now they've lost that job, I'd imagine the rate closer to 90% 

But of course these statistics (similar around the world) only count certain 'eligible' people. 

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1 hour ago, Brunolem said:

One of the main reason for this sudden increase in poverty was the termination of the rice subsidies. 

 

It hit millions of small farmers very hard. 

Rice is a horrendous crop that pretty much insures a life of poverty. 

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So they think unemployment will fall—as the Baht continues to rise?  That’s a good one.

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On 6/5/2020 at 2:18 PM, webfact said:

Thai unemployment at nearly 10 per cent

Shouldn't that be "employed" figure?

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3 hours ago, apetryxx said:

generals don’t know squat about running an economy and this whole fantasy is about control. Take that to the bank.

It's a control fantasy nearly all the western governments have joined.

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2 hours ago, Advocatus Diaboli said:

Well as the Thai Gov like to use figures lets put it out there. End of 2019 they said they had a unemployment rate of 0.7%. Now they report 9.6%. So keeping it to a level they can understand, since 2019 there has been a 1200% increase in unemployment.  Does this include Thai migrant workers in South Korea, Japan and other countries? That figure maybe without migrants that may not have jobs to return to. 

Yes, the figure excludes Thai's who would normally be working overseas. But there are other aspects to the way the figures are calculated:

 

The workforce is about half of the population, circa 36 million.

 

The unemployment rate does NOT include those in transition between jobs, people who have quit one job and are ready to start new employment, this is presumed to be 4% of the workforce. So the true unemployed rate = unemployed + workers in transition, typically 5-6%.

 

Workers of all ages who have given up looking and remain at home but who may return to work at some point are excluded from the workforce, this amounts to as much as a further 5% of the workforce.

 

Even at this stage, a headline rate of 1% unemployed may translate into a real rate of around 11%.

 

The unemployed total does not include the underemployed, a further 10%

 

Even at this stage, a headline rate of 1% unemployed may transalte into a real rate of around 11%.

 

Essentially the way in which the unemployed is counted is unreliable and arriving at a more accurate figure requires other factros to be included:

 

https://www.bot.or.th/English/MonetaryPolicy/MonetPolicyComittee/MPR/BOX_MRP/BOXMPR_EN_March2019_01.pdf

 

 

 

 

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