NESDB: Employment rate lowered but household debts increase in 2012


BANGKOK, 29 May 2012  – The Office of the National Economic and Social Development Board (NESDB) has revealed that even though unemployment rate has gone down this year, household debts have increased.

NESDB Secretary-General Arkhom Termpittayapaisith has announced that the unemployment rate in the first quarter stood at 0.73%, lower than that of the same period last year, which was at 0.83%. He cited that most workers have returned to the work since February although many factories are not fully recovered from the flood.

However, Mr Arkhom said up to 557,000 workers are not gainfully employed. Nearly 112,000 of them work less than 10 hours a week and need more jobs; around 450,000 of those are waiting for seasonal jobs.

According to the NESDB, household debt has increased as a result of the government’s flood rehabilitation, first car and first house loans. Other types of personal debts, such as credit card debts, have also increased.