The unemployment rate in Thailand surged to 1.9 percent in August of 2020 from 1 percent in the corresponding month the previous year, amid the economic downturn caused by the prolonged COVID-19 shocks. The number of unemployed jumped by 342.2 thousand from the prior year to 723.9 thousand people while the number of employed was little-changed at 38.05 million. The activities which employed more people were services and trade (17.45 million), agriculture (12.13 million), and manufacturing (8.47 million). The youth unemployment rate soared to 8 percent in August from 4.9 percent in the same month a year earlier.
Unemployment Rate in Thailand averaged 1.40 percent from 2001 until 2020, reaching an all time high of 5.73 percent in January of 2001 and a record low of 0.39 percent in November of 2012. This page provides the latest reported value for - Thailand Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Thailand Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Bank of Thailand
Unemployment Rate in Thailand is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Thailand to stand at 1.80 in 12 months time. In the long-term, the Thailand Unemployment Rate is projected to trend around 1.90 percent in 2021 and 1.50 percent in 2022, according to our econometric models.