The Thailand labour market update  found that youth employment fell by 7 per cent in the first quarter of 2021 (from the fourth quarter 2019). The youth unemployment rate increased by 3 percentage points for both men and women, reaching a high of 6 per cent and 8 per cent, respectively.

According to the report, pandemic-related restrictions particularly affected employment in smaller establishments with fewer than 50 workers. Youth employment in these establishments suffered the most, falling by 18 per cent for young men and by 24 per cent for young women.

“The impact of COVID-19 on the Thai economy has seen young people and small establishments especially hard hit. Targeted responses focussing on key sectors and segments of the workforce are vital for recovery, as are continuing efforts to ensure everyone receives a vaccination, including migrant workers.”

Graeme Buckley, ILO’s Country Director for Thailand, Cambodia and Lao PDR.

Between the fourth quarter of 2019 and the first quarter of 2021, total working hours fell by 7 per cent, or a decline in full-time equivalent employment by 2 million. A fairly strong recovery in working hours and employment in the last half of 2020 was reversed in the first quarter of 2021 due to the re-emerging waves of the pandemic.

A looming concern is that the pandemic has further affected Thailand throughout the second and the third quarters of 2021, and is also biting into the fourth quarter.

In the third quarter of 2021, the stringency of COVID-19 restrictions implemented were equivalent to those in the second quarter of 2020. A similar magnitude of socioeconomic shock as the one seen in the second quarter of 2020 could therefore be expected.

About the author

https://www.siamnewsnetwork.net/ | Website

Siam News Network includes top references news sites, Job Board, Business Directory and Classifieds Portal

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Indonesia’s role in ASEAN’s energy transition

This ESG Intelligence report details the country’s growing role in the global ESG ecosystem, with a focus on topics such as national progress towards renewable energy goals

Thai Economy Expected to Fully Recover in 2023

Finance Minister Arkhom Termpittayapaisith said 2022 should see the start of the rebound, with the economy expected to expand 4% next year amid strong export growth and the injection of 1 trillion baht in state funds into economic circulation.

PTT Backs “Team Thailand” to Boost Electric Vehicle (EV) Sector

PTT Public Co Ltd, the state-owned oil and gas giant, has suggested that the government and private sector establish “Team Thailand” to promote the Electric Vehicle (EV) segment.