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Thailand – Jobless rate dips in fourth quarter but remains near multi-year high (Reuters)

25 February 2021

Thailand’s unemployment rate fell in the fourth quarter of 2020 from the third quarter, reports Reuters. The fall comes as an easing of Covid-19 curbs led to a revival in economic activity. The unemployment rate was 1.86% in the October-December quarter, representing 730,000 workers without jobs, agency data showed, down from 1.90% in the September quarter. The rate hit an 11-year high of 1.95% in the June quarter. The number of workers in Thailand’s economy rose to 38.3 million in the fourth quarter of last year from 37.9 million in the previous quarter and from 37.5 million in the final quarter of 2019. The increase took place mainly in farming, which benefited from higher crop prices and government projects. Meanwhile, unemployment for the full year stood at 1.69% last year, the highest level in at least 16 years, from 0.98% in 2019, suffering its worst contraction in over two decades in 2020 as tourism slumped. Thailand is now dealing with a second wave that has slowed economic activity.