The Dhurakij Pundit University (DPU) Research Center has revealed that the implementation of the 300-baht minimum wage policy throughout the nation will affect employment and consumer prices.

DPU Research Center Director Kiatanan Luankaew said the survey on the effects of the 300-baht minimum wage policy shows that Tak, Lamphun, Sa Kaeo, Prachuap Khiri Khan, and Ratchaburi will be affected by the implementation the most. According to the poll, the wage increase will affect the employment market and the economy of each province.

Mr Kiatanan cited the National Statistical Office’s finding, saying out of 3.9 million Thai eligible workers, 338,400 are unemployed; the July unemployment rate was at 0.6%. He said employers will be able to adjust to the spike in minimum wage but the employees will be affected the most.

He also indicated that the consumer price index has been on the rise as a consequence, which will likely cause the real value of the 300-baht wage per day to shrink to around 285 baht in January next year and continue to decline further afterwards.

As the new minimum wage will become effective nationwide at the beginning of next year, the director suggested entrepreneurs to prepare reserve budgets for the first three months of 2013, while workers are urged to improve their skills and save some money for rising expenses.

 

NNT