The state planning agency of Thailand revealed today that the country’s employment growth has slowed to a five-quarter low of 1.3% year-on-year in the third quarter amid a sluggish economy and weak demand for exports.
This comes as Southeast Asia’s second-largest economy recorded a meagre growth of 1.5% in the July-September period, marking the slowest pace witnessed this year. The decline has been attributed to a decrease in exports and government spending.
According to the National Economic and Social Development Council (NESDC), the primary contributor to the third quarter’s job growth was the tourism sector. However, this growth in Thailand’s employment rate was less than the 1.7% increase observed in the previous quarter.
Conversely, the export-oriented manufacturing sector experienced a decrease in employment in the third quarter. The country’s
