Thailand’s employment growth stable in Q3

BANGKOK, Nov. 25 (Xinhua) — Thailand’s employment growth remained stable in the third quarter of 2024 as jobs in the non-farm sectors expanded despite an ongoing decline in the agricultural sector, official data showed on Monday.
The Southeast Asian country’s labor force slightly dipped 0.1 percent year-on-year to 40 million individuals in the July-September period as employment in the agricultural sector contracted 3.4 percent, mainly due to the impacts of flooding, according to the National Economic and Social Development Council (NESDC).
Meanwhile, employment in non-farm sectors expanded by 1.4 percent, driven by growth in transport and storage services, which recorded a 14 percent increase, followed by a 6.1 percent expansion in accommodation and food services, the NESDC said in a statement.
The kingdom’s unemployment rate stood at 1.02 percent in the third quarter, up from 0.99 recorded in the same period last year and representing 410,000 unemployed individuals, the state economic planning agency said.
Looking ahead, facilitating the transition of the workforce to modern industries is one of the key focus areas as traditional sectors face challenges in adapting to changing market demands, leading to job losses, reduced overtime, voluntary resignations and early retirements, said NESDC Secretary-General Danucha Pichayanan.
Under the government’s promotion plans, new investments, mostly in emerging industries, are expected to create around 170,000 jobs for Thai workers. Providing the workforce with the necessary skills is crucial in seizing these opportunities, Danucha told a news conference. ■