Thailand may increase the minimum wage for the second time this year
The decision follows a 2.37% wage hike implemented in January, which Prime Minister Srettha Thavisin finds insufficient, particularly for workers in the southern regions.
The tripartite wage committee is reassessing the daily minimum wage in Thailand, prompted by a government push for an increase – the second one proposed this year.
The decision follows a 2.37% wage hike implemented in January, which Prime Minister Srettha Thavisin finds insufficient, particularly for workers in the southern regions.
Sub-panels Formed to Deliberate on New Wage Rate
The committee, comprising government, employer, and employee representatives, has formed two sub-panels to deliberate on the new wage rate. Factors under consideration include inflation, GDP growth, and labor productivity, with last year’s inflation rate reported at 1.23% and the National Economic and Social Development Council adjusting its GDP forecasts for 2023 and 2024 to 1.9% and 2.7%, respectively.
EconThai Suggests Certain Professions and Regions Might See 400 Baht a Day
EconThai suggests that while the new minimum wage might not reach 400 baht a day for all workers, certain professions and regions could see this increase. This is in line with the Pheu Thai Party’s proposal for a gradual rise to 600 baht by 2027, starting with 400 baht this year.
Migrant Workers to Benefit Most from Proposed Wage Adjustment
Tanit Sorat, vice-chairman of EconThai, predicts that migrant workers will primarily benefit from the proposed wage adjustment to 400 baht a day, as many Thai workers already exceed this threshold.
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