Final Decision On Minimum Wage Hike May Be Reached Today

The tripartite committee setting minimum wage levels across Thailand may reach its final decision today, the Bangkok Post reports citing a source familiar with the panel's deliberations. The launch date will likely be left for later talks.

• "While many employers sitting on the board of the Employers' Confederation of Thailand (ECT) accepted a wage rise of between 7% and 10%, employers at SMEs found them excessive given the slow economy, said Boonchob Suthamanaswong, permanent secretary for labour. They are expected to be introduced between October and January, he said."
• Pressure has been piling on the authorities to raise the minimum wage amid soaring costs of living as Thailand clocked its highest core inflation rate in 14 years last month. Headline inflation was a tad slower than the previous month but remained at a very elevated level.
• The minimum wage varies depending on the province and was last raised in January 2020, by 1.6% to 1.8%. Earlier reports suggested that it could be hiked by 5% to 8% this time, which would bring it to one of the highest levels in Southeast Asia. While a sizeable increase would help workers cope with higher living costs, it risks adding fuel to consumer prices.