Listen to this article. The unemployment rate stood at 1.1%, down from 1.5% in the same quarter last year. Thailand | World Bank Development Indicators. Progress has been made to better cope with floods and droughts but certain challenges remain including an incomplete Water Resources Act 2018, a fragmented institutional landscape, and funding and staffing challenges which impact provision of services as well as proper operation and maintenance of aging infrastructure. Headline inflation is projected to moderate to 2% in 2023, below most emerging markets amid easing global energy prices, price caps and below-potential growth. 20-Jun-23 Thailand Unemployment (% of active population, aop) Unemployment Rate in Thailand GDP expanded at a faster year-on-year pace in Q1, underpinned by a recovering tourism industry and resilient consumer spending. Unemployment Rate in Thailand decreased to 1.05 % in March 2023. This was the lowest figure since the first quarter of 2020, before the economy felt the full impacts of the pandemic, due to a recovery in the crucial tourism sector. Currently, you are using a shared account. For further insight into our historical analysis of consumer spending in Thailand, please see: This commentary is published by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings. Copyright 2023 Fitch Solutions Group Limited. In 2022, Thailand had a workforce of 39 million, with the jobless rate at 1.32%, the agency said. See the table below for more data. This continues to place pressure on manufacturers, with bottlenecks and consumer goods shortages emerging, which has fed through into supply-side inflation. The highest unemployment rate was in the third quarter of 2021, at 2.29 percent, during the consideration period. to incorporate the statistic into your presentation at any time. (March 21, 2023). Why are OPEC+ supply cuts failing to boost oil prices? Available: https://www.statista.com/statistics/332222/unemployment-rate-in-thailand/, Thailand: Unemployment rate from 1999 to 2022, Immediate access to statistics, forecasts & reports, Life expectancy at birth in Thailand 2021, Life expectancy at birth in Thailand 2021, by gender, Median age of the population in Thailand 2020, Gross domestic product (GDP) in Thailand 2028, Gross domestic product (GDP) per capita in Thailand 2028, Gross domestic product (GDP) growth rate in Thailand 2028, Thailand: Share in global GDP adjusted for PPP 2028, Share of economic sectors in the GDP in Thailand 2021, Employment by economic sector in Thailand 2021, National debt of Thailand in relation to gross domestic product (GDP) 2028, Ratio of military expenditure to gross domestic product (GDP) in Thailand 2021, Ratio of government expenditure to gross domestic product (GDP) in Thailand 2028, Thailand's budget balance in relation to GDP 2028, Total population of the ASEAN countries from 2018 to 2028, Life expectancy at birth in the ASEAN countries 2021, Gross domestic product of the ASEAN countries from 2018 to 2028, Gross domestic product (GDP) per capita in the ASEAN countries 2028, Inflation rate in the ASEAN countries 2028, Trade balance of goods in the ASEAN countries 2022, New cases of COVID-19 worldwide from January 23, 2020 to June 13, 2023, by day, Quarterly youth unemployment rate in Tunisia 2019-2022, U.S. exports of trade goods to Thailand 1985-2022, Value of the entertainment and media market in Thailand 2014-2019, source, Thailand - forecasted for vehicle production 2010-2015, Opinion of citizens on proficiency of Shopping for the Nation measure Thailand 2018, Gasoline consumption across the United Arab Emirates 2006-2015, Find your information in our database containing over 20,000 reports. and over 1Mio. Thailand Consumer Outlook: Recovery Continues But Inflation Continues To Weigh On Spending, Thailand Consumer Outlook: Consumer Spending Will Begin Recovery In 2021, Risks Weighed To Downside. (May 10, 2023). Finally, leading employment indicators appear to suggest to us that net job losses and a pickup in the unemployment rate is imminent. Stronger economic growth, lower unemployment and reduced inflationary pressures will support this increase in spending. Thailand Unemployment Rate | Moody's Analytics The maximum rate was 7.75 % and minimum was 0.47 %. See here for a complete list of exchanges and delays. Consolidated Fiscal Balance: % of GDP (%), Forecast: Government Expenditure (THB bn), Govt Revenue: Gross: Excise Dept (THB mn), Govt Revenue: Gross: Revenue Dept: Value Added Tax (THB mn), Exports: Medicinal and Pharmaceutical Product (USD th), Imports: Medicinal and Pharmaceutical Product (USD th), MoC: Trade Balance: Custom Basis (THB mn), Foreign Portfolio Investment: % of GDP (%), Foreign Portfolio Investment: Equity Securities (USD mn), Foreign Portfolio Investment: Debt Securities (USD mn), Forecast: Current Account Balance (USD bn), Net International Investment Position (USD mn), BOP: USD: Current Account Balance (USD mn), Private Investment Index (PII): Seasonally Adjusted (SA) (2010=100), Foreign Direct Investment (FDI): Agr, Forestry & Fishing (THB mn), FDI: Financial & Insurance Activities (THB mn), Foreign Exchange Reserves: Months of Import (NA), Debt Service Ratio: Private Non-Financial Sector (%), Credit to Private Non-Financial Sector (USD bn), Monetary Aggregates (MA): Broad Money (THB mn), Leading Economic Index (LEI): BOT: Seasonally Adjusted (2000=100), Thailand MM: Machinery & Equipment (THB mn), Thailand MM: Buildings & Structures (THB mn), Thailand MM: Nonfinancial Assets (THB mn), Thailand Memorandum (MM): Net Worth (THB mn), Thailand GG: Other Accounts Payable (THB mn), Thailand GG: Financial Derivatives & Employee Stock Options (THB mn), Thailand GG: Insurance, Pension, & Std Guarantee Schemes (THB mn), Thailand GG: Equity & Investment Fund Shares (THB mn), Thailand GG: Currency & Deposits (THB mn), Thailand GG: Special Drawing Rights (SDRs) (THB mn), Thailand GG: Insurance, Pension & Std Guarantee Schemes (THB mn), Thailand GG: Provisions for Calls Under Std Guarantee Schemes (THB mn), Thailand GG: Claims of Pension Funds On Pension Manager (THB mn), Thailand GG: Pension Entitlements (THB mn), Thailand GG: Life Insurance & Annuities Entitlements (THB mn), Thailand GG: Nonlife Insurance Technical Reserves (THB mn), Thailand GG: Other Accounts Receivable (THB mn), Thailand GG: Monetary Gold & SDRs (THB mn), Thailand GG: Intangible Number produced Assets (THB mn), Thailand GG: Other Naturally Occurring Assets (THB mn), Thailand GG: Mineral & Energy Resources (THB mn), Thailand GG: Number produced Assets (THB mn), Thailand GG: Machinery & Equipment (THB mn), Thailand GG: Buildings & Structures (THB mn), Thailand GG: Nonfinancial Assets (THB mn), Thailand General Government (GG): Net Worth (THB mn), Thailand CC: Other Accounts Payable (THB mn), Thailand CC: Financial Derivatives & Employee Stock Options (THB mn), Thailand CC: Insurance, Pension, & Std Guarantee Schemes (THB mn), Thailand CC: Equity & Investment Fund Shares (THB mn), Thailand CC: Currency & Deposits (THB mn), Thailand CC: Special Drawing Rights (SDRs) (THB mn), Thailand CC: Insurance, Pension & Std Guarantee Schemes (THB mn), Thailand CC: Provisions for Calls Under Std Guarantee Schemes (THB mn), Thailand CC: Claims of Pension Funds On Pension Manager (THB mn), Labour Force, Employment and Unemployment, Labour Force, Employment and Unemployment: Quarterly, Labour Force Survey: Age 15 and Over: Employment by Age Group: Quarterly, Labour Force Survey: Age 15 and Over: Employment by Industry: By ISIC, Labour Force Survey: Age 15 and Over: Employment by Occupation, Labour Force Survey: Age 15 and Over: Employment by Work Status, Labour Force Survey: Age 15 and Over: Hours Worked, Labour Force Survey: Age 15 and Over: Labour Force by Sex, Labour Force Survey: Age 15 and Over: Labour Force Status and Unemployment Rate : Quarterly, Labour Force Survey: Age 15 and Over: Unemployment by Educational Attainment, Employee By Industry, Income Class, Whole Kingdom, Labour Force, Employment and Unemployment: Annual, Labour Force Survey: Age 15 and Over: Average Monthly Wage, Labour Force Survey: Age 15 and Over: Employment by Educational Attainment, Labour Force Survey: Age 15 and Over: Employment by Industry: By ISIC: Quarterly (Discontinued), Labour Force Survey: Age 15 and Over: Employment by Occupation: Quarterly, Labour Force Survey: Age 15 and Over: Employment by Work Status: Quarterly, Labour Force Survey: Age 15 and Over: Labour Force By Age, Labour Force Survey: Age 15 and Over: Labour Force Status and Unemployment Rate, Labour Force Survey: Age 15 and Over: Unemployment by Age Group: Quarterly, Labour Force Survey: Age 15 and Over: Unemployment by Industry: By ISIC. The growth in consumer spending growth over 2023 will come as the economic recovery effects wane, although inflation will also moderate downwards across 2023. Thailand unemployment rate for 2019 was 0.72%, a 0.05% decline from 2018. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Thailand Unemployment Rate - Forecast - TRADING ECONOMICS Finally, with most economies reporting an economic slowdown over late 2022, we are beginning to highlight the negative impact that higher unemployment will have on our consumer outlook in the short term. The unemployment rate in Thailand fell to 1.37 percent in the second quarter of 2022 from 1.53 percent in the previous quarter. CreditSights enables credit market participants to manage financial risk better with independent credit research, global market insights, covenant analysis, and news, distilling market noise into actionable investment ideas. Thank you. facts. Trading Economics welcomes candidates from around the world. The unemployment rate is a lagging indicator, meaning it responds (rises and falls) to changing economic conditions rather than influencing or predicting them. Available via annual subscription to one or more of CEICs global and premium databases. Thailand's unemployment rate drops to 1.2% as of November, statistics show If you decline, your information wont be tracked when you visit this website. Thailand Unemployment Rate 2023 Data - 2024 Forecast - TRADING ECONOMICS The macroeconomic costs of floods will grow. Typical value range is from 0.76 to 1.56. The number of unemployed persons in Thailand decreased to 421.14 Thousand in the first quarter of 2023 from 462.49 Thousand in the fourth quarter of 2022. "Unemployment rate in Thailand from the 1st quarter of 2021 to the 4th quarter of 2022." In order to better cope with floods and droughts, the report recommends a more robust framework for effective climate adaptation including creating an enabling environment, prioritizing risk mitigation planning, investing in water resources infrastructure, and controlling land and water use. Percent Civilian unemployment rate, seasonally adjusted Click and drag within the chart to zoom in on time periods Total Men, 20 years and over Women, 20 years and over 16 to 19 years old White Black or African American Asian Hispanic or Latino 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 Hover over chart to view data. While inflation is eroding real gains in incomes, the strong labour market has been a major driver of the elevated real growth in consumer spending that we saw over 2022. Use Ask Statista Research Service. Inflation should continue on a general downtrend in 2023, with the result that it averages 3.5% over the year and ends the year at 2.5%. Unemployment refers to the share of the labor force that is without work but available for and seeking employment. The key risk to our short-term outlook is the high indebtedness of Thai households, particularly since interest rates are forecast to continue rising over 2023. See here for a complete list of exchanges and delays. The source did not provide a release date. BANGKOK, March 2 (Reuters) - Thailand's unemployment rate in the fourth quarter of 2022 dropped to 1.15% from 1.23% in the previous quarter, the state planning agency said on Thursday, as the vital tourism sector rebounds. A paid subscription is required for full access. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information In Thailand, inflation reached a 14-year high in mid-2022 and averaged 6.0% over the first 11 months of the year. Currently, you are using a shared account. Instant access to full history data in excel. The NSO also noted that the number of employed people rose from 39.81 million at the end of 2022 to 39.91 million by the end of February. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. United States Unemployment Rate June 2023 Data - TRADING ECONOMICS 0.3 percentage point to 3.7 percent, the U.S. Bureau of Labor Statistics reported today. We use this information in order to improve and customize your browsing experience and for analytics and metrics about our visitors both on this website and other media. Thai jobless rate falls to 1.15% in Q4, as tourism recovers Thailand - Employment by economic sector | Statista The Big Banks Aren't Stressed - Bloomberg Over H123, inflation is set to remain above the 3.0% upper limit of the central bank's target range, so we expect the bank to continue tightening monetary policy in response. Published by Aaron O'Neill , Jun 1, 2023 The unemployment rate in Thailand reached 1.1 percent in 2020, a small increase from the previous year. Labor market conditions have improved due to the recovery of sectors related to tourism, trade and hospitality. Entry level access to the CEIC platform for individual users. Directly accessible data for 170 industries from 150+ countries The data is reported by reported by CEIC Data. Accessed July 05, 2023. https://www.statista.com/statistics/332222/unemployment-rate-in-thailand/, World Bank. The steady increase in confidence since May 2022 led to strong double-digit growth in retail sales between May and September 2022 (latest data available), averaging 15.8% y-o-y. Fitch Learning develops the future leaders of the financial services industry and drives collective business performance. In Thailand, the unemployment rate has recovered from its peak of 2.2% in Q321, reaching 1.2% as of Q322 (latest available data). Includes Unemployment Rate on 116 economies standardised by CEIC. A new census conducted by the National Statistical Office shows that the number of unemployed persons in Thailand has dropped by 95,000, with 620,000 new people entering the workforce. Direct access to our data from your apps using any programing language. Kristalina Georgieva, IMF's managing director, said at the Apec Summit in Bangkok on Saturday that the economies of most Apec members would slow down and a third of the world will enter an economic recession. However, with many global economies now forecast to slow or even enter recession over 2023, we are starting to highlight increasing levels of unemployment as a risk to our consumer outlook in the short term. Over the course of the pandemic, household debt as a percentage of GDP in Thailand increased significantly. Any comments or data included in the report are solely derived from BMI and independent sources. Thai jobless rate lowest in 3 years in Q1 as tourism rebounds Show publisher information 13, 2023, by day. Unemployment, total (% of total labor force) (modeled ILO estimate) in Thailand was reported at 0.862 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Browse over 2,000 research reportsat the Fitch Solutions Store. Thailand 2023 Consumer Outlook: Bright Year Ahead As Inflation Expert analysis of opportunities and risks across emerging and frontier markets. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Growth is projected to accelerate from 2.6% in 2022 to 3.9% in 2023 due to stronger-than-expected external demand, especially in China, Europe, and the US, as well as private consumption growth, and tourism recovery. She said this is the first time in almost four years that NSOs survey has seen the unemployment rate drop to below 1%. The commodity price increases fed through into higher consumer prices, and this will continue into 2023. Unemployed Persons in Thailand averaged 623.54 Thousand from 1998 until 2023, reaching an all time high of 1743.70 Thousand in the second quarter of 1999 and a record low of 188.01 Thousand in the fourth quarter of 2012. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. [Online]. Please create an employee account to be able to mark statistics as favorites. . The rate was at or close to its record low in only eight countries, including Canada . Thailand Unemployment Rate 1977-2023 | FX Empire Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Number of Unemployed Persons in Thailand decreased to 421 Thousand Persons (0.421 Million Persons) in March 2023. We have a plan for your needs. Thailand Population, 1950 - 2023 | CEIC Data Meet some of our key people and explore our credentials. BMI has a nearly 40- year track record of supporting investors, risk managers and strategists. Employment rate in Thailand by gender | Statista Job gains . May 3, 2023 In 2019, the average inflation rate in Thailand amounted to about 0.71 percent compared to the previous year, when it was just recovering from a slump below the -percent-mark in. Accessed July 05, 2023. https://www.statista.com/statistics/1374021/thailand-unemployment-rate/, NESDC. The surge in arrivals will bode well for spending in the tourism sector and on related services, such as hotels and restaurants and cultural and recreational activities and establishments. Thailand Unemployment (% of active population, aop) Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 1000+ markets in 190+ countries & territories, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces.

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