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Labour Minister Explains Normality of Layoffs in line with Double the Number of New Factories

Date: 
Thursday, 14 November 2019

       The Labour Minister spoke about the layoffs saying that the situation is not worrisome. In line with the industrial data from January 1 to November 12, 2019, a total of 1,391 factories have closed, and 2,889 new factories have opened; therefore, 2 times more new factories have opened than those that have closed. A total of 35,533 people has been laid off, but 84,033 people employed in new businesses, with an additional 84,704 people employed into companies that have expanded. The statistics reflect that the country's economy is growing, and the production capacity is within normal conditions. There is confidence that within 1-2 years, that with the government developing the country with infrastructure, there will be more capital circulating in the system.

      On November 14, 2019, Labour Minister M.R. Chatumongol Sonakul spoke about the news on layoffs and the closure of current factories in 2019. According to the Ministry of Industry’s data from January 1 to November 12, 2019, 1,391 factories have closed. At the same time, 2,889 new factories have opened; therefore, there are two times more new factories than those that have closed. A total of 35,533 people was laid off, while 84,033 people were employed in new businesses, and 84,704 people were employed by expanding businesses, with an additional investment of 431,216 million Baht, up 36.6 percent from last year. Thus, the economic conditions of Thailand are growing.
      M.R. Chatumongol said that the Ministry of Labour has over 79,000 vacancies, and companies are still in demand for workers. The Ministry of Labor has offered professional skills training for workers to acquire new skills. As for capacity utilization, the rate in September 2019 was 64.73 percent, the lowest since December 2011, or in 94 months. The Labour Minister said that the capacity utilization rate at 65 percent is still healthy. As for the future, we will have to wait and see the trade negotiations between China and the US, which potential to improve.
      "At this time, the government has guidelines for national development by focusing on the development of infrastructure, especially transportation systems, which is not creating industries. The said project has started, and within 1-2 years, the capital will start to circulate in the economy to 1.7 times. Projects stimulating spending is also necessary for these economic conditions,” concluded M.R. Chatumongol.
 

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Division of Public Relations/
News by Chaninthorn Phettab/
14 November 2019