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“.


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).


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.


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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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