2.25 billion baht approved for hiring 10,000 graduates

2.25 billion baht was approved yesterday by the Cabinet for the hiring of 10,000 new university graduates for a year in order to help economically struggling people during Covid-19. The money will come from an emergency fund from the central budget established to deal with the global pandemic.

28 state agencies will be responsible for hiring these 10,000 new employees in positions in the provinces and in central urban areas, with workers earning 18,000 baht a month. The government plans on focusing on the 2.25 billion job hiring scheme first, followed by later plans to help entrepreneurs down the line, according to PM Prayut Chan-o-cha.

150 million baht of that 2.25 billion baht budget is earmarked for Social Security Fund contributions, while the remaining 2.10 billion is reserved for paying monthly salaries. The plan to launch the hiring of 10,000 jobs later this month.

In other government assistance during the Covid-19 pandemic, the government announced a new round of 50% salary co-payments for employees of small and medium-sized enterprises the help businesses keep afloat and pay their employees. Deputy Prime Minister Supattanapong Punmeechaow announced the plan, to be launched as soon as possible, as an effort to avoid mass layoff that will trigger further economic hardship across Thailand.

Money for the SME employee copays will come from the newly approved 500 billion baht loan decree, sourcing funding either from a 170 billion baht allotment for stimulating investment, domestic consumption and maintaining employment or from a 300 billion baht fund for helping businesses and people affected by the third wave of Covid-19.

The plan is to run the 50% co-pay for 3 to 9 months and is aimed at businesses that were unable to get a soft loan as part of the central bank cache of 250 billion baht of loan funds.

SOURCE: Bangkok Post