Chart, average wages of employees : Q2 erases the hike of Q1

The National Statistical Office has updated its Labor Force survey, with Q2 2008 figures (my previous chart here).

Table 7 : “Average wage of Employed Persons by Industry“.

wagesq21

I wrote about Q1 figures : “Something clearly happened… “. Indeed, the average wages of employees in agricultural sector went up 47 % compared to Q1 2007 !

One quarter later, it’s clear that the “soufflé” has deflated.

The total (industrial + agricultural) declined from 9 100 THB to 8 678 THB (that’s an increase year on year of 8,7 %, instead of 18,1 %).

As for the agricultural sector, the average declined from 5 290 THB on Q1 to 3 781 THB on Q2 (that’s still a 7,8 % increase compared to Q2 2007).

wagesq221

The surge we had on Q1 could be explained by the hike of agricultural prices… But what I don’t understand is that prices were still high during Q2 (the decline started in july, like with oil and other commodities).

So why average wages declined from Q1 to Q2 ?

And previously we can’t see any special pattern to first quarters.

Anyway, it’s interesting to have a look at the details, sector per sector (click on the image). It helps to put in perspective other economic datas about Thailand.

wagesdatas

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