Happy New Year For Workers: Thailand To Raise Minimum Wage From January

 

There’s excellent news for laborers in the Southeast Asian nation of Thailand. For Thai laborers, the new year is enjoyable. In January 2024, Thailand will increase its minimum wage. The Thai prime minister, Srettha Thavisin, has said that the government intends to increase the minimum salary for employees.

January will see a rise in Thailand’s minimum wage, according to Prime Minister Srettha Thavisin. The prime minister validated the prior agreement to increase the minimum wage on Tuesday. In March, the Thai government also intended to increase worker wages even more.

What is anticipated?
Thai laborers’ current minimum wage is between 328 and 354 baht. In Thailand, there are regional differences in wages. The government, employers, and employee representatives have agreed to form a wage committee and increase the salary threshold from 330 baht to 370 baht.

The committee had already decided to raise the minimum wage by 2.37% every day, starting in January 2024. The prime minister of Thailand thought the raise was too little, though. The prime minister advocated raising the minimum wage to 400 Baht per day.

“Another investigation covering local wage rates and professional groups will conclude in March… (to determine) areas and groups that can increase wages,” stated Phipat Ratchakitprakarn, Thailand’s Minister of Labor.

The minimum wage saw a 5.02 percent hike in October of last year. After considering a plan to raise the minimum wage by 2.37% on average each day, the authorities decided to pursue a higher rise.

The prime minister of Thailand wants to revive the national economy. The prime minister has already expressed his expectation that big giants like Microsoft, Google, and Tesla will make investments.