More Thai Graduates Jobless

The unemployment rate among new graduates spiked in the second quarter of this year despite the acceleration of Thai economic growth, thainews reported. The unemployment rate slightly increased to 1.2%, up from 1.1% in the same period last year, with a total of 470,000 unemployed workers, said Porametee Vimolsiri, secretary-general of the National Economic and Social Development Board on Monday. “The unemployment rate spiked to 24.1% among those who have never been employed before, as it was the graduation season and there was large influx of new graduates entering the labor market,” said Porametee. It is estimated that some 39% of unemployed people had university degrees, according to the NESDB. Porametee said that it is normal for this group to experience a high rate of unemployment in the second and third quarters each year. The rate declines as the fourth quarter approaches. NESDB figures, however, reveal that unemployment has been trending up among this group between 2013 and 2016.