Unemployment in Thailand expected to drop in 2011

BANGKOK,Dec10(TNA)-The Kasikorn Research Center(KRC) has forecast that the unemployment rate in Thailand is likely to drop by 1-1.1 per cent in 2011.

According to the KRC, this is due to the growing Thai industrial sector, especially in automobile, electrical and electronic businesses where their production is shifted towards energy efficient manufacturing of eco-cars, electric cars and other electrical or electronic products—which will spur demand for specialized and skilled workers.

However in preparation for the year 2011, the leading private think tank has advised the Thai government to formulate strategies to develop Thai workers’ skills to meet global standards.

Regarding a new wage hike resolved on Thursday (Dec9) by the central wage committee by 5.3 per cent or an average of 11 baht nationwide, the Bangkok-based research firm noted that the local industrial sector needs to brace for challenges faced in the future from fiercer competition, higher costs of production resulting in less profits.(TNA)