Thai Economy May Take Four Years to Absorb Jobless, Political Scientist Says.

Knight Ridder/Tribune Business News, January, 2003

By Darana Chudasri, Bangkok Post, Thailand Knight Ridder/Tribune Business News

Jan. 28--The economy would take three to four years to absorb the current level of unemployment even if economic growth reached between 6 percent and 7 percent a year, said Somchai Phagaphasvivat, a Thammasat University political scientist.

Unemployment had been easing in recent years, Dr Somkid said. Employment would grow at an annual rate of 7 percent to 8 percent if the economy grew by between 5 percent and 6 percent a year, he said.

However, growth could be reduced to between 4 percent and 5 percent in the event of a severe economic slowdown from the impact of a US-Iraq war or terrorism.

The economy was more favourable to employers, given that...

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