This is the economic reality for consumers entering into 2023. Unemployment Rates, OECD - Updated: May 2023 - OECD 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. Our latest articles and views onindustries, regions, and topics. Bangkok and the export industries around it remain especially vulnerable to flooding, despite the introduction of flood control measures. The entire country was . This uptick in consumer confidence can be attributed to improved economic activity following the lifting of Covid-19 restrictions. to incorporate the statistic into your presentation at any time. 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. . API users can feed a custom application. In, NESDC. Current job openings: 2023 Data - 2024 Forecast - 1977-2022 Historical, Thailand Inflation Rate Lowest in Near 2 Years, Thailand Manufacturing PMI Falls to 3-Month Low, Thailand Private Investment Rebounds in May, Thailand Personal Spending Rises the Most in Over a Year, Thailand Industrial Output Drops Less than Expected, Thailand Imports Drop Less than Estimated, US 10-Year Treasury Yield Little Changed, FOMC Minutes Awaited, German 10-Year Bond Yield Remains Above 2.4%, Cyprus Current Account Gap Hits All-Time High, South Africa 10-Year Bond Yield Hovers Around 7-Week Low, Ireland Unemployment Stays at All-Time Low, US Logistics Sector Contracts for 2nd Month, Ghana Private Sector Growth Slows in June. 2023-05-05 US Jobless Rate Unexpectedly Falls The unemployment rate in the United States edged down to 3.5 percent in March 2023, against expectations that it would hold at 3.6 percent. Business Solutions including all features. We help credit, risk, and investment professionals make better-informed decisions and meet regulatory requirements, within and beyond the rated universe. High-Frequency Data: Robust Retail Sales Growth Underpinned By Rising Consumer Confidence. statistic alerts) please log in with your personal account. Download limits apply. 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Know what you need but not surewhere to find it? Show publisher information Thailand 2023 Consumer Outlook: Bright Year Ahead As Inflation Our Country Risk team forecasts an additional 75bps worth of hikes to materialise over 2023, taking the interest rate to 2.0% by the end of the year. This should also contribute to 3.8% growth in 2023. Shots were fired at a tanker in sensitive Gulf waters on Wednesday but the vessel and crew are safe, a British maritime security body said, the latest incident in a series of seizures or attacks on commercial ships in the Gulf since 2019. Thailand unemployment rate for 2020 was 1.10%, a 0.38% increase from 2019. ", World Bank, Thailand: Unemployment rate from 1999 to 2022 Statista, https://www.statista.com/statistics/332222/unemployment-rate-in-thailand/ (last visited July 05, 2023), Thailand: Unemployment rate from 1999 to 2022 [Graph], World Bank, May 10, 2023. A paid subscription is required for full access. Over the course of the pandemic, household debt as a percentage of GDP in Thailand increased significantly. In November 2022 (latest data available), the consumer confidence index for Thailand stood at 47.9, the highest it had been since March 2021. Trisulee also noted that the government aims to boost employment and bring it to pre-Covid levels, adding that Prime Minister Prayut Chan-o-cha had devised policies to achieve the goal. Additionally, governments have been very supportive of local labour markets, resulting in tight markets that have pushed up nominal wages. Unit: %. Employment increased 1.5% in October-December from a year earlier, but slowed from a 2.1% rise in the September quarter, as jobs in the service sector increased but farm sector employment contracted, the agency said in a statement. Editing by Ed Davies, Why a $1.5 trillion source of corporate financing is choking on higher rates, Focus: South African food producers warn of higher prices as infrastructure crumbles. Why are OPEC+ supply cuts failing to boost oil prices? This includes in-depth insight and data, and high frequency geopolitical risk indicators. Sustainable Fitch delivers human-powered sustainability Ratings, Scores & Opinions, as well as Data & Research to serve the needs of fixed income investors. 2023 Data 2024 Forecast 1991-2022 Historical, 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. Any comments or data included in the report are solely derived from BMI and independent sources. The report noted that Thailand's unemployment rate for this year and next is at merely 1%. Measures should include both infrastructure investments and softer ones, such as effective early warning and community-based adaptation systems. 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. The ideal entry-level account for individual users. 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. Published by Aaron O'Neill , May 31, 2023 The statistic shows the distribution of employment in Thailand by economic sector from 2011 to 2021. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Data published Monthly by Central Bank. 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. What is Unemployment Rate in Thailand? The data reached an all-time high of 5.70% in Jan 2001 and a record low of 0.39% in Nov 2012. Unemployment rate 3.4 percent in April 2023 - U.S. Bureau of Labor 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. While household debt averaged 69.2% of GDP between 2015 and 2019, reaching a low of 68.2% in Q218, it surged to a peak of 91.7% by Q121. Thailand Unemployment Rate 2023 Data - 2024 Forecast - TRADING ECONOMICS The unemployment rate in Thailand fell to 1.05 percent in the first quarter of 2023 from 1.15 percent in the previous quarter. At the end of last year, the terminal rate was . Today's latest Bank of England rate hike is an admission that 12 rises over more than 18 months have not been enough to tackle the . We have a plan for your needs. Source: National statistics, Fitch Solutions, Source: Bank of Thailand, University of the Thai Chamber of Commerce, Fitch Solutions, f = Fitch Solutions forecast. Thailand - Unemployment, total - actual values, historical data, forecasts and projections were sourced from the. Your download link will be emailed to you shortly. The rate was at or close to its record low in only eight countries, including Canada . Number of Unemployed Persons in Thailand decreased to 421 Thousand Persons (0.421 Million Persons) in March 2023. 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To use individual functions (e.g., mark statistics as favourites, set Bank of Thailand boss claims . Thailand also frequently suffers from droughts resulting from shortage of rainfall, reduced flow in surface and sub-surface rivers, and poor land management practices. Thailand's unemployment rate hit a three-year low in the first quarter, the state planning agency said on Monday, declining to 1.05% from 1.15% in the last three months of 2022 as recovery in the . Key information about Thailand Unemployment Rate. The unemployment rate stood at 1.1%, down from 1.5% in the same quarter last year. However, inflation came in at 5.5% in November (latest data available), haven fallen from the peak of 7.8% in August, suggesting that the worst has passed. Use Ask Statista Research Service. Our teams are dedicated to connecting you with what you need, quickly, efficiently, and professionally. "seasonally inactive labor force." The latter pertains to the large agricultural workforce (about one-third of total employment) which is cyclically unemployed during each dry season (November to May). The unemployment rate in Thailand fell to 1.37 percent in the second quarter of 2022 from 1.53 percent in the previous quarter. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Directly accessible data for 170 industries from 150+ countries 07/01/2023 Finally, leading employment indicators appear to suggest to us that net job losses and a pickup in the unemployment rate is imminent. Many markets have boasted strong labour markets post-Covid, driven by rapid economic recoveries, both locally and globally. Profit from the additional features of your individual account. Thailand Unemployment Falls to Lowest Level since Covid-19 Begins amid Although the latest available data indicate that household debt accounted for a reduced 88.9% of GDP in Q222, this figure remained some 28% higher than the pre-pandemic average. "Unemployment Rate in Thailand from The 1st Quarter of 2021 to The 4th Quarter of 2022. The graphic below summarises these risks to our outlook going into 2023. United States Unemployment Rate June 2023 Data - TRADING ECONOMICS You only have access to basic statistics. The data is reported by reported by CEIC Data. Statista. Over H222, inflation began to shift into services such as tourism, and this will continue into 2023. IMF predicts Thai economic growth of 3.7% in 2023 - nationthailand 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. Rising consumer price inflation has been the key risk to consumer spending over 2022, and it has been eroding purchasing power and shifting consumer spending away from discretionary spending. Thailand unemployment rate for 2018 was 0.77%, a 0.06% decline from 2017. 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. Nevertheless, inflation will remain above the average of 0.8% seen over 2018-2019, prior to the pandemic. Thailand Economic Monitor June 2023: Coping with Floods and Droughts Thailand Unemployment Rate remained the same at 1.03% in Apr 2023, from the previously reported figure of 1.03% in Mar 2023. This was the lowest figure since the first quarter of 2020, amid the loosening of COVID-19 restrictions. Listen to this article. 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Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. In Thailand, the unemployment rate has recovered from its peak of 2.2% in Q321, reaching 1.2% as of Q322 (latest available data). PwC Australia provided Google confidential information about the start date of a new tax law leaked from Australian government tax briefings, according to two sources familiar with the matter. The commodity price increases fed through into higher consumer prices, and this will continue into 2023. Unemployment refers to the share of the labor force that is without work but available for and seeking employment. NESDC. Thailand Unemployment Rate remained the same at 1.03% in Apr 2023, from the previously reported figure of 1.03% in Mar 2023. 26 Figure 7: Financial Stress Is Starting to Simmer as Credit . e/f = Fitch Solutions estimate/forecast. . Thailand: unemployment rate 2022 | Statista Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Employment rate in Thailand by gender | Statista 13, 2023, by day. API users can feed a custom application. The industry leader for online information for tax, accounting and finance professionals. Fiscal responses to high energy price have supported the recovery but slowed the path to consolidation, while a long political transition may slow public investment. Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Full steam ahead for Thai economy in 2023 - Thai Examiner The latest advancements to improve water use efficiency, promote a circular economy, and integrate nature-based solutions can also significantly contribute to enhancing resilience to floods and droughts. This website stores cookies on your computer. All rights reserved, Unlimited access tailored to your data needs. Payable monthly by credit card. Typical value range is from 0.76 to 1.56. Thailand's unemployment rate drops to 1.2% as of November, statistics show.
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