Rising Unemployment in Thailand: Higher Education Graduates Hit Hardest

Thailand's unemployment rate is on the rise, with 410,000 people out of work in the first quarter of this year, according to the National Statistical Office. Those with higher education degrees are the most affected.

Office director Piyanuch Wuttisorn noted that about 79,000 people have been jobless for over a year. The data shows that highly educated individuals are the largest group of unemployed, followed by high school and middle school graduates. The reasons for unemployment vary.

A significant 59.25% of the unemployed left their jobs voluntarily, while 16.16% lost their jobs due to business closures. Expired contracts and layoffs account for 13.15% and 5.47%, respectively.

The overall number of employed workers has also slightly decreased from 40.2 million to 39.6 million quarter on quarter, mainly due to a drop in agricultural workers caused by severe drought conditions.

However, there is some positive news. Non-farm employment increased by 2.2% quarter on quarter, driven by growth in the hospitality and restaurant sectors, reflecting the strong recovery of Thailand's tourism industry, as reported by The Nation. Despite this, Piyanuch warns that unemployment might rise further in the next quarter, especially among agricultural workers due to ongoing drought conditions.

Additionally, the Thai government plans to launch the One Family One Soft Power (OFOS) project in June, aiming to create 20 million jobs with a minimum yearly wage of 200,000 baht, according to Paetongtarn Shinawatra, head of the National Committee on Soft Power Development and leader of the Pheu Thai Party.

In other news, Pattaya employers are concerned about a sudden increase in job vacancies following Myanmar's recent restrictions on young people, especially men, leaving the country.