Thai government unveils minimum wage hike for 2024

The Thai Prime Minister, Srettha Thavisin, unveiled a hike in the nation’s minimum wage after a cabinet meeting on December 26. The daily wage is set to rise between 2 and 16 baht (US$0.058-0.47), an increase that could impact many of Thailand’s workers. The adjustment, which signifies a 2.37% rise in wages within 2024, is part of a broader effort to maintain an appropriate wage level in the country.

Further discussions on the surge in minimum wages are slated for January and March 2024 during further tripartite committee meetings. The stakeholders involved are striving to strike a balance that supports the livelihoods of workers without straining the country’s economy.

According to Thai media reports, the current landscape of wages varies across the country. Phuket province, for instance, boasts the highest minimum wage at 370 baht (US$10.81) per day. In contrast, the southern border provinces of Narathiwat, Pattani, and Yala have a lower minimum wage, set at 330 baht (US$9.64) per day, reported The Pattaya News.

Once the Thai cabinet gives the green light, the Royal Thai Gazette will make a formal announcement. The proposed wage increase will then take effect from January 1 next year.

The Thai Minister of Labour, Phipat Ratchakitprakarn, offered additional insights into the wage adjustments. He mentioned that a tripartite committee would be set up to study the raise of minimum wages at the district, sub-district, and municipal levels. This initiative recognises that each area has unique economic conditions. For example, Pattaya and Hat Yai have different economic dynamics, which will influence wage considerations.

Ratchakitprakarn added that relevant agencies would assess the information in each area and potentially raise the minimum wages again in March 2024. This move could serve as a timely gift to the Thai people during the Songkran celebration.

In related news, Thailand’s government plans a January hike in the daily minimum wage, following a 2.37% increase agreement. Prime Minister Srettha Thavisin seeks more, advocating for a populist rise to 400 baht ($11.60). Stay updated on potential revisions by the tripartite committee amid wage adjustment discussions.