Question

The natural rate of unemployment in Thailand is about 1% and the labor force participation rate is about 68%. Interpret these values. What does it mean for the Thailand’s economy and population? Why is the U-rate so low?

Answer 1

the main reasons for low unemployment rate of Thailand is birth rate wing Lo lack of social insurance also about 64% of the workforce are associated with the informal sector.due to the structural problems and unemployment rate of Thailand is so low.more than 40% of labourers are absorbed by the agricultural sector the rest find job in the informal sector or arrange something on their own.there are no methods of any sort of unemployment insurance in Thailand also.Heroine would do a part-time job are counted as employed. The foreign workers are excluded from the unemployment count. There is also no majorly planned policy of labour market.substantial disparities exist between the direction of shift and the scale of shift in the Thailand economy as well as labour force deployment. Substantially manufacturing has increased.Specifically export contribution analysis of the change in the labour force are based on the census of population. Thailand has a substantially diversify its methods in agriculture. Many people of Thailand are searching for jobs outside the country as well. Thailand has witnessed rapid increase in the population which has led to rapid influx of the youth in the labour market.