Unemployment Rate Evolution in Thailand from 1990 to 2021

The unemployment rate in Thailand remained relatively low through the early 1990s, peaking at 2.6% in 1991 before dropping steadily to below 1% by 1997, reflecting strong economic growth and labor market stability prior to the Asian Financial Crisis. However, the 1998 crisis led to a sharp increase in unemployment, which spiked to 3.4% as the Thai economy contracted. Recovery efforts gradually reduced the rate to 2.4% by 2000, with subsequent years maintaining low levels due to sustained economic reforms and industrial growth.

In the 2010s, Thailand saw record-low unemployment rates, notably hitting 0.2% in 2013. The government’s economic policies and expansion in sectors like tourism and manufacturing played a role. Although the COVID-19 pandemic in 2020 temporarily raised the rate to 1.1%, it soon recovered to 0.9% by 2022. Thailand’s historically low unemployment rate reflects both economic resilience and structural factors like informal employment.