Thailand’s unemployment rate in the second quarter of 2022 hit the lowest level since the beginning of the Covid-19 in 2020, according to the data reported by the National Economic and Social Development Council (NESDC).
Secretary-General Danucha Pichayanan stated that unemployment in 2Q22 was 550,000, representing 1.37% of the total workforce of 39.8 million people in Thailand. The number fell from 1.53% recorded in the first quarter of this year and also 1.93% in 2021 and 1.69% in 2020.
The improving unemployment rate is an indicator for an economic recovery that was severely hit by the global pandemic in 2020 as the government and private sector are hiring more employees in response to the surging economy.
Last week, the finance minister Arkhom Termpittayapaisith expected the Thai economy to grow 3.0-3.5% in 2022, saying that Thailand’s post-pandemic economy will be in a slow but steady recovery. Public investments will help push the Thai economy forward, while state investment projects will be accelerated to support the recovery as well.