In the past, earning a university degree was considered a prestigious achievement and often seen as a guaranteed path to securing a good job.
However, with more individuals in the job market holding higher education qualifications, its value has diminished, leaving many graduates struggling to land their first job.
Report on country’s social condition
According to Taiguowang, the National Economic and Social Development Council (NESDC) of Thailand recently released a report on the country’s social conditions, revealing that while the unemployment rate has slightly decreased, it remains at a relatively low level.
According to the report, as of mid-February this year, approximately 360,000 people in Thailand were unemployed, marking an 8.8% increase.
The majority of the unemployed population comprises fresh university graduates aged between 20 and 24.
53% of those who have never worked hold a higher education degree
The unemployment rate among individuals who have previously held jobs rose to 12.4%, while the unemployment rate among those who have never worked increased to 5.4%.
A significant portion—53.3%—of those who have never been employed hold higher education qualifications.
Most of those who lost their jobs previously worked in the manufacturing, wholesale, and retail sectors
Long-term unemployment, defined as being jobless for over a year, saw a 13% increase, reaching 67,000 individuals.
41.3% of the unemployed held university degrees or higher
According to The Nation, Tanit Sorat, chairman of the Advisory Council for National Workforce Development, had already warned last year that economic stagnation could increase unemployment in late 2024 and early 2025.
In October 2024, Thailand’s labor market had 39.63 million employed individuals, while around 387,000–390,000 were unemployed, reflecting a 0.97–1% unemployment rate.
Notably, 41.3% of the unemployed held university degrees or higher.
According to Asia News Network, Thailand’s unemployment rate this year has hit the highest level in two years at 1.07%, the National Economic and Social Development Council (NESDC) said.
