Causes Of Unemployment In Thailand

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MACROECONOMICS: THAILAND Tutor: Ms Wang Cui Ling Tutorial Group: TB10 Team members: Andy, Clarice, Xue Ting, Zin Hui 1.0 Fresh graduates hardness hit as joblessness rises 1.1 Brief description of the article 1.2 Difficulty finding jobs 1.3 Low unemployment rate 1.4 Types of unemployment 1.5 Actions taken 1.1 The article talks about unemployment in Thailand. Unemployment is the non-availability of jobs for people who are able to work, willing to work and actively looking for employment at the prevailing wage rate. As reported by the Office of the National Economic and Social Development Board, there is a slight increase in unemployment rates in Thailand in the first quarter amid low economic growth. It was a 0.05 percent increase with…show more content…
Unemployment insurance are not provided in Thailand, thus there are no incentives to stay unemployed for long. People who are unemployed either look for part-time jobs or enter the “informal” sector where their work and taxes are not accounted for. More than 40 percent of Thailand’s population is involved in farming which is also the cause of high levels of underemployed and seasonal unemployment. Thailand is also experiencing low fertility rate with an estimate of 1.4 from 2010 to 2015. They are also becoming an aging population with more people retiring and withdrawing from the workforce. Foreign workers are also excluded from the unemployment statistics partially due to language barriers. The blur shades of grey is also another reason as formal work arrangements are not accounted for and this alone comprises of more than 64 percent of the total workforce in…show more content…
To further add on, the world’s population had been increasing drastically which leads to higher rice consumption in the recent years. They also anticipate that in the next 20 years time, the world’s population(7.3 billion) might even increase by 20%(1.46 billion) , therefore not able to keep up with its demand. So, in order to make sure everyone is able to have enough food for themselves, the government is aiming to increase its current yield of Thai rice by 25% in the next five years while lowering production costs by 20% over the same period. In order to do so, they are planning to adopt high technology to produce more rice grains to ensure price

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