Wage increase
- Thailand News
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 News
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…
- Business News
MR. D.I.Y. undeterred by Thai wage hike, continues expansion
MR. D.I.Y., a leading home improvement retailer, persists in its expansion plans in Thailand, unperturbed by the recent escalation in the daily minimum wage. The CEO of MR. D.I.Y. Thailand, Andy Chin, acknowledges that while this wage increase may raise the company’s costs slightly, it will be advantageous for the economy. Chin predicts a positive surge in the retail sector…
- Thailand News
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 News
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 News
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 News
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…
- Economy News
Thai wage committee upholds 2.37% minimum wage increase
Yesterday, a senior government official announced that the tripartite wage committee has decided to uphold their previously agreed-upon plan to increase the average daily minimum wage by 2.37%. The committee, consisting of representatives from the government, employers, and employees, has agreed to uplift the pay threshold range to 330 to 370 baht, starting in January. This was confirmed by Pairoj…
- Thailand News
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 News
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 News
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 News
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…
- Business News
Thai businesses may face wage pressure after state officials’ salary increase
The Thai Chamber of Commerce predicts a potential ripple effect on businesses, following the Cabinet’s decision to approve a 10% salary increase for state officials. The chairman of the chamber, Sanan Angubolkul, anticipates that this move may compel businesses to raise their wages to attract skilled employees. The salary increase for new state employees will result in a monthly income…
- Thailand News
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 News
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 News
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 News
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…
- World News
Japan sees fastest wage growth in 30 years but weak household spending persists
In April, Japan experienced a rise in wages as major companies increased pay at the fastest rate in 30 years, responding to workers’ demands for higher salaries to cope with inflation. However, household spending remained weak, highlighting an uneven economic recovery. The wage data offers an early insight into the effects of the spring labour negotiations, known as “shunto,” and…
