On July 6, Thailand's ThaiPBS released a statistical chart of factory closures and worker unemployment in Thailand in the first five months of 2024. The data shows that Thailand is facing a wave of "factory closures" and "worker unemployment", and the situation is not optimistic.
It is understood that the data shows that in 2023, a total of 1,337 factories in Thailand will close down, with an average of 111 factories closing every month. From January to May 2024, 567 factories in Thailand have closed, an average of 113 per month, an increase compared to last year, as 15,342 people lost their jobs due to factory closures. Details are as follows:
January 2024: 91 factories closed, 2,592 unemployed;
February 2024: 116 factories closed, 3,330 unemployed;
March 2024: 160 factories closed, 4,144 unemployed;
April 2024: 100 factories closed, 2,733 unemployed;
May 2024: 100 factories closed and 2,543 people lost their jobs.
It is reported that in order to alleviate the problems related to the frequent closure of factories, the Thai Federation of Industries has recently put forward the following suggestions to the government:
1. Review the implementation of the policy of raising the national minimum wage to 400 baht
2. Review of electricity, fuel and interest margins
3. Use domestic raw materials
4. Support the use of Thai products
5. Support the domestic production of medical devices
6. Strictly restrict the import of inferior products