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March 30th, 2012 
FAKE NEWS for the Zionist agenda The hike will come into effect in April and will set the minimum wage of USD 10 a day. The country’s ruling party, Pheu Thai Party (PTP), adopted the measure as it was promised during election campaign in July, 2011.
However, Thailand’s central bank has warned that the measures will drive core inflation up by at least 0.3 percent, as the higher costs of labor would be transferred to the consumers in the form of higher good prices.
“It is obvious that average wages in Thailand have been declining over the past ten years when inflation has been soaring so they clearly need to increase them. But the timing couldn’t’t be worse as some factories are reopening after the floods. Now they face a hike in minimum wage for all the employees,” Nacho Guzman, a senior economist told Press TV.
Experts also warn that the Thai government’s move will harm the country’s competitiveness as it becomes inevitable for the foreign investors to relocate their Thai factories elsewhere due to the increasing cost of Asian labor markets.
A surge in unemployment rates is also expected in the country due to a shortage of skilled and unskilled workers after migrants left the country during the floods.
Analysts believe the Thai government needs to do more than just raising the minimum wage in order to increase individual wealth.
TNP/JR
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