Monday, October 27, 2008

Thailand could lose 1 million jobs to recession

Bangkok - Thailand could lose up to 1 million industrial jobs over the next several quarters as a global recession cuts in to the kingdom's exports, industry sources warned Tuesday. As the world enters recession, export orders are expected to fall 30 per cent next year, adversely affecting Thailand's key export sectors such as garments, electric and electrical appliances, ceramics and furniture, according to Thaveekij Jaturajarernkul, chairman of the labour committee and the Federation of Thai Industries.

"Consequently, 15 to 20 per cent of the workforce is expected to be laid off at the start of 2009," he told The Nation newspaper.

Industry currently employs about 6 million people in Thailand.

Many Thai factories are already operating five days a week instead of the previous six as a result of declining export orders this year, said Thaveekij.

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