Thai Jobless Rate Jumps to the Highest Since 2005 on Covid Hit

Thailand’s unemployment rose to its highest level in more than 16 years after the worst wave of Covid-19 outbreak to hit the nation decimated jobs in the third quarter, Bloomberg News reported. The Southeast Asian nation had 870,000 unemployed people at the end of September, representing a 2.25% jobless rate, according to the National Economic and Social Development Council. It’s the worst showing since 2005 and is higher than the 1.89% posted in the second quarter, official data showed. Thailand was hit by its most severe wave of Covid infections from April which intensified in July, forcing business closures and travel restrictions. The quasi-lockdown crippled the economy as it contracted 0.3% in the third quarter from a year ago. Read more.