The NESDB reported that the number of people gainfully employed in the workforce dropped by 2.8 percent during April to June 2014, raising the unemployment rate to 1 percent nationwide. Most of the unemployed were farmers, who lost their jobs due to this year’s drought situation.
Household debts have decreased slightly in conjunction with the economic slowdown, which is partly due to the end of the previous administration’s “First Car Rebate Program”.Consumer spending has also declined, as more Thais have been increasingly concerned about their income levels and the possibility of securing a good career in the future. Meanwhile, Deputy Secretary-General Ms. Chutinart Wongsuban stated that the NESDB would keep a close watch on the increasing number of defaults on consumer loans.
Outstanding credit card debts of which the payments are more than three months late are estimated to be around 7.5 billion baht.