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  1. #1
    Mid
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    FTI projects Thai employment to drop one million in 2009

    FTI projects Thai employment to drop one million in 2009

    BANGKOK, Oct 27 (TNA) - The ongoing global financial crisis coupled with Thailand's political turbulence and sluggish Thai-Cambodian border trade are expected to reduce new jobs in Thailand in 2009 by about one million, a senior official of the Federation of Thai Industries (FTI) warned on Monday.

    Speaking after an urgent meeting among FTI members nationwide in response to global economic problems, Federation vice chairman Thanit Sorat urged the government to resolve the local political deadlock as soon as possible, as Thailand's tourism industry has already sustained losses of as much as 50 per cent, even though the World Bank has forecast the global financial meltdown affecting the tourism sector only by 4.5 per cent.

    Thailand's industrial community believe that the local political impasse is making a more significant impact, entirely negative, on the country's economy, Mr. Thanit said, than the world economic situation.

    Some industries, garments, electronics, furniture and ceramics, for example, have already reduced production by between 20-30 per cent due to sharp declines in international purchase orders, which will cut the availabilityof new jobs by one million in 2009, including some 700,000 students who will graduate early next year to dim job prospects.

    Along with tight liquidity in the provinces -- as banks will be reluctant to extend loans to entrepreneurs without purchase orders -- it is believed that the Thai economy during the first half of 2009 would slow down in line with world economy, he said.

    Add Thailand's persisting political problems, and it is projected that the gross domestic product in the country this year and next will decline to 4.5 and 3.8-4 per cent respectively, Mr. Thanit said.

    He urged the government to quickly speed laying out economic measures with the FTI to defend the domestic economy against the global financial crisis.

    Regarding the Thai-Cambodian border trade which has become sluggish as many Cambodians have started boycotting Thai goods following clashes between Thai and Cambodian soldiers at disputed border areas in the past few months, Mr. Thanit said it also impacted Thai investment in Cambodia.

    Production is due to start soon at a Thai sugar refinery built on Cambodia's Koh Kong Island, and its operations may also be affected, he added. (TNA)

    enews.mcot.net

  2. #2
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    Quote Originally Posted by Mid
    cut the availabilityof new jobs by one million in 2009, including some 700,000 students who will graduate early next year to dim job prospects.
    that is going to be painful

  3. #3
    Mid
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    Sharp exports dropping in Thailand may lead to 15 % workers unemployed
    2008-10-28

    BANGKOK, Oct. 28 (Xinhua) -- The Federation of Thai Industries (FTI) warned Tuesday that Thailand's export output has plunged 30 percent and the slump could persist till the beginning of 2009, which could leave many in the industrial sector unemployed.

    Thaveekij Jaturajarernkul, FTI deputy chairman and labor committee chairman, was quoted by Bangkok Post as saying that the industrial sector may lay off 10 to 15 percent of employees. Around 700,000 new graduates would also have more difficulties in finding jobs each year, he noted.

    According to the reports, the increasing unemployment rate is due to the global economic recession, and many industrial segments of the country have experienced lower sale orders by about 30 percent from the United States, the European Union and Japan.

    "Many factories have lifted their overtime and reduced the number of workdays from six to five. Some factories have to lay off 10 percent of their staff, and the consequences should be more apparent by January 2009," Thaveekij said.

    He urged the government and the private sector to jointly seek plans to cope with the economic crisis because there are no direct solutions at the moment. Another FTI deputy chairman Thanit Sorat said the export output, particularly from clothing, furniture, ceramics and electrical appliance industries, has dived by about 20 to 30 percent. The Thai Chamber of Commerce will announce its study on the economic impact on the country's industries and the plans to manage and address it in the short-term and long-term on Nov. 13. 

    news.xinhuanet.com

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    Mid
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    Olarn warns of rising unemployment
    Wednesday October 29, 2008 11:00

    Deputy Prime Minister Olarn Chaipravat, who is tasked to manage economic issues, said on Wednesday that the government is trying to raise this year’s economic growth by at least five per cent because a per cent lower could leave more than 400,000 people unemployed.

    “The government is striving to achieve this year’s economic growth target at five per cent because if the economy faces a setback and its growth in 2009 is lower than four per cent, up to 600,000 people could be out of jobs,” the deputy premier warned.

    Meanwhile, Prime Minister and Defence Minister Somchai Wongsawat affirmed that the government is concerned over the economic crisis but expressed confidence that all of its measures can prevent it from worsening.

    Mr Somchai said funds will be allocated to different ministries to help spur the economy.

    On Wednesday, the government called a meeting with relevant units to discuss various economic projects including Small, Medium and Large (SML) Village Funds and One-Tambon One-Product project. Mr Olarn and Finance Minister Suchart Thadathamrongvej also attended this meeting.

    bangkokpost.com

  5. #5
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    Oh dear, more of the extended family will be looking for "support"

  6. #6
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    how late is therme open now a days

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    Quote Originally Posted by Mid View Post
    The Federation of Thai Industries (FTI) warned Tuesday that Thailand's export output has plunged 30 percent
    Time for a devaluation, me thinks.....

  8. #8
    Mid
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    ^

    problem is Baht is already weak , same for most currency's , for mine the reality is that the bloody dollar is unjustifiably strong .

  9. #9
    Mid
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    Labour Ministry lays out measures to help laid-off workers



    BANGKOK, Oct 29 (TNA) - In an attempt to cushion the impact of the global recession which could spread to Thailand in 2009, the Thai Labour Ministry has mapped out measures to assist employees who are to be laid off from their jobs.

    Somchai Chumrat, Permanent Secretary for Labour, said it is projected that about one million people would be left unemployed next year.

    A total of 14,059 employees were laid off by 122 employers from the beginning of 2008, from January1 through October 22, Mr. Somchai said, and the ministry understands that another 15,630 workers at 36 working places would be left jobless soon.

    Most of the employees who were terminated from their jobs were in the fields of furniture and decorative product manufacturing, he said.

    Measures to help people who become jobless have been laid out, according to Social Security Office (SSO) secretary-general Pan Wannapinit, who said the SSO has set aside Bt35 billion to pay social security insuranced holders who have become jobless.

    Also, in a bid to reduce burden on both employers and employees, the Social Security Office will reduce social security fund contributions from both parties 1.5 per cent from the current 5 per cent and the government contribution by 0.5 per cent, said Mr. Pan.

    Mr. Pan said his office would offer a reprieve to about 28,000 employers who failed to pay their contributions amounting Bt2.5 billion on the social security for their workers. He indicated that they would be able to pay in installments within two years, and that fines would be reduced as well.

    It is expected that the measures would inject money into the economic system by as much as Bt27 billion and reduce employment termination by at least 60,000 people, said Mr. Pan.

    These measures are now being drafted by the ministry and it is hoped that they could be implemented early next year, he added. (TNA)

    enews.mcot.net

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