Thailand Unemployment Rate

The unemployment rate in Thailand declined to 1.02% in Q3 of 2024 from 1.07% in the previous quarter. The latest figures came amid accelerating GDP growth. The fresh data showed that the country's economy grew 3% year-on-year (yoy) in Q3 of 2024, marking the fastest expansion in two years, boosted by faster increases in government spending, rising net trade contributions, and a sharp rebound in fixed investment. Meanwhile, the employment rate edged down 0.1% yoy in Q3, a softer decline than the 0.4% fall in Q2, with agricultural and manufacturing employment falling by 3.4% and 1.4%, respectively. In contrast, increases were seen in non-farm jobs (1.4%) and in the hotel and restaurant sector (6.1%). The National Economic and Social Development Council forecast growth of 2.6% this year, after last year's 1.9% expansion.