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Thailand raises Minimum Wage

[Thailand Business News] Thai National Wage Committee has agreed to raise the daily minimum wage around the country by between 8 and 17 Baht.
Thailand raises Minimum Wage

Thailand Business News

Somkiat Chayasriwong, Permanent Secretary for Labour, who chaired the meeting of the Wage Committee on Thursday said the wage rise was due to be put into effect on January1, 2011.

The committee considered the quality of life of workers, inflation rate and economy in each province in making the decision.

The wage rise ranges from 8-17 baht with 9 baht rise in Bangkok and Samut Prakan and 10 baht in Nakhon Prathom, Nonthaburi, Pathum Thani and Samut Sakhon.

The daily minimum wage in Bangkok and surrounding areas will be raised to 215 baht.

The raise, which amounts to an increase of 6.7% on average, is considered a big jump.

The increase takes the average minimum wage to 176.3 baht a day, said Somkiat Chayasriwong, the permanent secretary for labour and chairman of the wage committee.

Mr Somkiat attributed the raise to the government’s policy to reduce disparity in society.

The Social Security Office says about 2 million Thai workers and 2 million migrant workers will benefit from the increase.

The raise for Thai workers adds more than 6.92 billion baht to the national payroll, while the increase for migrant workers adds up to more than 7.78 billion baht.

The increase will boost the purchasing power of the 4 million workers by 14.69 billion baht.

The increase of 17 baht in the minimum wage in Phuket, from 204 baht to 221 baht, is the highest in the country.

The minimum wages in Bangkok and nearby provinces were put on an equal footing of 215 baht a day.

The minimum wage in Bangkok and Samut Prakan was raised by nine baht from 206 baht. In Nakhon Pathom, Pathum Thani, Samut Sakhon and Nonthaburi, it was increased by 10 baht from 205 baht.

The size of the work force in Thailand now exceeds 38.24 million (2009 est.), with the majority of the workforce under 35 years of age. Each year about 800,000 people join this force. Many standard labor practices apply, including mandatory severance packages, and overtime payments for work in excess of

The minimum wage in Thailand is currently 206 baht per day in Bangkok and slightly less in the provinces. While not the lowest labor market in the region, Thailand’s workforce is among the most cost-efficient in the world, as they have earned a reputation for diligence and adaptability.

 http://thailand-business-news.com/economics/27852-thailand-raises-minimum-wage

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