No products in the basket.
Youth unemployment hits new highs in Thailand due to COVID-19 restrictions
The Thailand labour market update found that youth employment fell by 7 per cent in the first quarter of 2021 (from the fourth quarter 2019). The youth unemployment rate increased by 3 percentage points for both men and women, reaching a high of 6 per cent and 8 per cent, respectively.
According to the report, pandemic-related restrictions particularly affected employment in smaller establishments with fewer than 50 workers. Youth employment in these establishments suffered the most, falling by 18 per cent for young men and by 24 per cent for young women.
“The impact of COVID-19 on the Thai economy has seen young people and small establishments especially hard hit. Targeted responses focussing on key sectors and segments of the workforce are vital for recovery, as are continuing efforts to ensure everyone receives a vaccination, including migrant workers.”
Graeme Buckley, ILO’s Country Director for Thailand, Cambodia and Lao PDR.
Between the fourth quarter of 2019 and the first quarter of 2021, total working hours fell by 7 per cent, or a decline in full-time equivalent employment by 2 million. A fairly strong recovery in working hours and employment in the last half of 2020 was reversed in the first quarter of 2021 due to the re-emerging waves of the pandemic.
A looming concern is that the pandemic has further affected Thailand throughout the second and the third quarters of 2021, and is also biting into the fourth quarter.
In the third quarter of 2021, the stringency of COVID-19 restrictions implemented were equivalent to those in the second quarter of 2020. A similar magnitude of socioeconomic shock as the one seen in the second quarter of 2020 could therefore be expected.
Discover more from Thailand Business News
Subscribe to get the latest posts sent to your email.
Related Posts
LatestNews
Other people are reading
© 2024 Siam News Network