Wage increase

  • Thailand NewsThailand to increase minimum wage to 400 baht by year-end

    Thailand to increase minimum wage to 400 baht by year-end

    Thailand’s Labour Ministry has assured the public that a minimum wage increase to 400 baht will be implemented nationwide by the end of the year, as stated by Phiphat Ratchakitprakarn, the Labour Minister. The tripartite wage committee is currently awaiting the official appointment of two new members: the Permanent Secretary of the Ministry of Labour and the Director-General of the…

  • Thailand News400-baht minimum wage confirmed for October 1 despite delay

    400-baht minimum wage confirmed for October 1 despite delay

    Labour Minister Phiphat Ratchakitprakarn confirmed that the 400-baht daily minimum wage will take effect on October 1 as planned, despite the national wage committee’s failure to endorse it yet. Opposition People’s Party MP Sia Champhathong questioned the minister in the House yesterday, asking if the adjournments of two recent committee meetings were a governmental tactic to avoid addressing the issue.…

  • Thailand NewsThailand delays minimum wage hike to 400 baht by two weeks

    Thailand delays minimum wage hike to 400 baht by two weeks

    Thailand’s decision to delay the planned increase in the minimum wage to 400 baht per day will extend the wait by about two weeks, according to a senior labour official. This postponement, initially set for October 1, is due to the committee responsible for the hike not meeting quorum requirements in its recent sessions. The committee, comprising representatives from employers,…

  • Thailand NewsMinimum wage decision delayed after employer reps’ no-show

    Minimum wage decision delayed after employer reps’ no-show

    The Wage Committee’s scheduled meeting was abruptly cancelled due to the absence of employer representatives, postponing the decision to raise the minimum wage to 400 baht set to take effect on October 1. Government and employee committee members were left waiting at the Ministry of Labour yesterday. Pairote Chotikasathien, Permanent Secretary of the Ministry of Labour and Chairman of the…

  • Thailand NewsThai govt boosts support for park rangers with wage increase

    Thai govt boosts support for park rangers with wage increase

    The Thai government has taken a significant step to strengthen the crucial efforts of national park rangers by introducing a series of measures to improve their welfare and support. Among these measures is a wage increase, serving as a clear acknowledgement of the invaluable contributions made by park rangers across the country. The Director-General of the Department of National Parks,…

  • Thailand NewsCommerce ministry acts to control prices amid minimum wage hike

    Commerce ministry acts to control prices amid minimum wage hike

    The Ministry of Commerce implemented two measures to tackle rising product prices following the minimum wage increase to 400 baht. Officials are closely monitoring clothing prices and urging businesses to maintain prices for essential goods in eight categories. Director-General of the Department of Internal Trade Wattanasak Sueaiam stated yesterday May 16 that the private sector is preparing to raise product…

  • Business NewsThailand’s business confidence drops amid wage hike concerns

    Thailand’s business confidence drops amid wage hike concerns

    Business confidence in Thailand took a hit as the Thai Industries Sentiment Index (TISI) dropped in April, reflecting entrepreneurs’ concerns over a slew of economic pressures, including a proposed daily minimum wage increase. The TISI, a measure of the mood in the industrial sector, registered at 90.3 points, a decrease from the 92.4 points recorded in March, as reported by…

  • Thailand NewsTripartite committee rejects uniform 400-baht minimum wage hike

    Tripartite committee rejects uniform 400-baht minimum wage hike

    The tripartite wage committee has chosen to uphold the autonomy of provincial wage panels in setting minimum wages, rejecting the Thai government’s uniform 400-baht minimum wage hike. During a tense session on May 14, the 15-member committee, representing the Ministry of Labour, employers, and employees, did not endorse the proposed nationwide increase. This decision followed closely on the heels of…

  • Economy NewsThai govt’s minimum wage hike to 400 baht faces opposition

    Thai govt’s minimum wage hike to 400 baht faces opposition

    The government’s recent announcement of an impending nationwide minimum wage hike to 400 baht per day in October has provoked strong opposition from a member of the tripartite wage committee. The committee member in question, Atthayuth Leeyavanich, who represents employers, criticised the premature disclosure of the wage increase, asserting that it had not yet been discussed or approved by the…

  • Business NewsThai shippers forecast modest growth amid wage increase concern

    Thai shippers forecast modest growth amid wage increase concern

    The Thai National Shippers’ Council (TNSC) projects a 1% to 2% growth in exports for the current year and urges a thoughtful approach to the proposed increase in the daily minimum wage, supplemented by government support via the wage committee mechanism. TNSC chairman Chaichan Chareonsuk anticipates a 1 to 2% increase in the nation’s exports by March this year. Chaichan…

  • Thailand NewsThailand plans to extend minimum wage increases to more regions

    Thailand plans to extend minimum wage increases to more regions

    Prime Minister Srettha Thavisin announced yesterday that the government intends to extend minimum wage increases to additional regions and business sectors. This follows the wage increase approved for specific parts of 10 provinces set to take effect from April 13. The 62 year old Thai prime minister further commented that regular Cabinet meetings will be conducted to ascertain which regions…

  • Thailand NewsThai labour unions criticise new daily minimum wage

    Thai labour unions criticise new daily minimum wage

    The Thai Labour Solidarity Confederation (TLSC) and State Enterprises Workers’ Relations Confederation (SEWRC) expressed disapproval of the new daily minimum wage of 400 baht approved by the tripartite wage committee. The wage increase is only applicable to some areas in 10 provinces, initiating a wave of criticism from the labour unions, who argue that this decision is unjust. According to…

  • Thailand NewsWage increase: EconThai’s projections for minimum daily wage

    Wage increase: EconThai’s projections for minimum daily wage

    An anticipated meeting of the tripartite wage committee later this month is expected to sanction a second increase in the minimum daily wage for this year. However, the Employers’ Confederation of Thai Trade and Industry (EconThai) suggests the approved hike is unlikely to take the wage to the 400 baht mark. According to Thanit Sorat, the vice-chair of EconThai, the…

  • Business NewsThai businesses fear cost surge due to minimum wage hike

    Thai businesses fear cost surge due to minimum wage hike

    Businesses in Thailand are bracing for a potential increase in operating costs, following the government’s proposition to raise the daily minimum wage to 400 baht (US$11) within the year. The Federation of Thai Industries (FTI) has expressed its concern over the implications of this wage hike, particularly on small and medium-sized enterprises (SMEs), which are currently grappling with elevated interest…

  • Thailand NewsLess than 5% pay rise for Thai employees this year

    Less than 5% pay rise for Thai employees this year

    According to Aon Plc’s latest survey, Thai employees are set to experience a modest 4.9% pay rise this year, trailing behind their regional counterparts. The forecast anticipates a slight uptick from 4.7% last year but still falls short of the salary growth expected in Indonesia (6.5%), the Philippines (5.5%), and Malaysia (5%). Meanwhile, Singapore is projected to witness a 4%…

  • Thailand NewsPotential rise in minimum wage to 400 baht in select provinces

    Potential rise in minimum wage to 400 baht in select provinces

    The anticipated increase in the daily minimum wage to 400 baht in select provinces is set for review by the tripartite wage committee in April, according to Labour Minister Phiphat Ratchakitprakarn. The committee’s chairman, Pairoj Chotikasathien, assigned a subcommittee to reassess the wage calculation formula and explore the potential for wage hikes in certain provinces and professions. The findings from…

  • Thailand NewsThailand’s tripartite committee to reconsider new minimum daily wage

    Thailand’s tripartite committee to reconsider new minimum daily wage

    A pivotal meeting is set to take place on Tuesday, led by the tripartite committee on minimum daily wages in Thailand. The discussion is centred around the possibility of revising the new daily wage rate that was established on December 8. This comes in the wake of comments made by Prime Minister Srettha Thavisin criticising the newly determined rate as…

  • Thailand NewsNida Poll reveals Thai public opinion on civil servant salary and minimum wage increase

    Nida Poll reveals Thai public opinion on civil servant salary and minimum wage increase

    The public opinion poll centre, Nida Poll, from the National Institute of Development Administration (NIDA), unveiled the results of a survey conducted between December 13 and December 15 among Thai citizens aged 18 and above. The study, spanning all regions, educational backgrounds, occupations, and incomes, involved a total of 1,310 samples and focused on the topic of civil servant salary…

  • Business NewsMinimum wage hikes unlikely to impact Thai goods pricing significantly

    Minimum wage hikes unlikely to impact Thai goods pricing significantly

    The Commerce Ministry’s planning unit has weighed in on the ongoing debate regarding the impact of minimum wage increases on domestic goods and services, suggesting that such hikes are unlikely to significantly influence the pricing landscape. Poonpong Naiyanapakorn, the director-general of the Trade Policy and Strategy Office (TPSO), has argued that a rise in the daily minimum wage by an…

  • Thailand NewsThai prime minister criticises marginal increase in minimum wage

    Thai prime minister criticises marginal increase in minimum wage

    Prime Minister Srettha Thavisin of Thailand has voiced his disagreement with the decision of the tripartite wage committee to marginally increase the daily minimum wage rate by 2 to 16 baht across the country. Expressing this during a government project inspection in Kanchanaburi, he criticised the low raise and promised to seek a revision. Srettha pointed out that the government…

  • Thailand NewsThailand’s civil servants to receive 20% salary increase over two years

    Thailand’s civil servants to receive 20% salary increase over two years

    Newly recruited civil servants in Thailand are set to receive a salary increase of 20% over the next two years. The decision, approved by the Cabinet, was announced by Danucha Pichayanan, the secretary-general of the National Economic and Social Development Council. The proposed plan by the Office of the Civil Service Commission (OCSC) is to increase salaries by 10% annually…

  • Business NewsWage increase: Thai businesses wary of proposed 400 baht hike

    Wage increase: Thai businesses wary of proposed 400 baht hike

    The business sector expressed concerns over the possible negative effects of the proposed daily minimum wage increase to 400 baht. The announcement, made by Prime Minister Srettha Thavisin, could lead to higher costs for consumers. Industries that rely heavily on labour, such as agriculture, food export, retail trade, and construction, would be most affected by the wage increase, according to…

  • Economy NewsThailand’s government proposes swift minimum wage increase to 400 baht

    Thailand’s government proposes swift minimum wage increase to 400 baht

    Prime Minister Srettha Thavisin announced that the government will be pushing for a swift increase in the minimum daily wage to 400 baht, in a bid to assist workers grappling with rising living costs. The decision will be reached through negotiations between the government, employers, and workers to agree upon a reasonable amount. The prime minister shared the plans during…

  • Economy NewsFitch ratings reveal Thailand’s economic recovery to boost corporate earnings in 2023

    Fitch ratings reveal Thailand’s economic recovery to boost corporate earnings in 2023

    Recovery of the domestic economy and alleviation of inflationary pressures are set to bolster the performance of corporations in Thailand this year, suggest analysts from Fitch Ratings during the 2023 Thailand Corporate Credit Outlook & Asean ESG conference, held recently in Bangkok. Corporates at Fitch Ratings (Thailand)’s Lertchai Kochareonrattanakul, a senior director, indicated in his talk that a boost in…