The Thai government’s decision to increase the daily minimum wage rate in the country to THB 400 has been getting significant attention. While many advocate for higher wages to support workers, others are concerned about the overall impact on the economy.
Some analysts believe that businesses will simply pass on the additional labour costs to consumers, driving up the price of goods and services, limiting consumer spending, and potentially leading to higher inflation. Other analysts say that businesses will have no choice but to announce layoffs and redundancies.
As the law moves closer to implementation, it is important for both employers and employees to understand the broader economic consequences and their rights under this new policy.
Join the discussion with IAS Advisory co-founder Mr Anuwat Ngamprasertkul in an episode of the popular evening TV programme Home Economy, hosted by veteran news anchor, reporter and journalist Dr Wit Sittivaekin.
This episode premiered on Monday 11th November 2024 on Thai PBS, Thailand’s public broadcasting service. Disclaimer: all content is owned by Thai PBS. Visit the Thai PBS website here:: https://www.thaipbs.or.th/home