Half of new graduates will not get jobs

Up to half of college and university graduates this year will not be able to get jobs due to the sluggish economy and business closures.

The Federation of Thai Industries (FTI) predicts that the number of new graduates will outnumber the positions available in many companies by about 50 percent.

From this figure, the FTI predicts that at least 150,000 graduates or 50%, would be unable to find jobs if they apply for jobs.

The Department of Employment has estimated that in 2014, there would be at least 547,800 people entering the workforce, and around 336,900 of them would be Bachelor’s Degree graduates, who account for 61.5 percent of job applicants.

Meanwhile, Thailand Development Research Institute (TDRI) has forecast that Thailand’s GDP will only grow between 2.5 to 2.7 percent this year. It has also predicted that unemployment rates will reach 1.0 to 1.2 percent in 2014 across the country, considerably higher than last year’s rate of 0.8 percent.