May 1, 2009
Bangkok (ASTV Manager Online) – Most of Thai workers whose income is less than 15,000 baht borrowed loans to pay their household expenses and relied on illegal sources of loan, according to a survey.
The Thai Chamber of Commerce revealed that 90 percent of working Thais did not have an extra job to yield more money to compensate decreasing income caused by less working hours.
Up to 63.64 percent borrowed loans to pay their household expenses, and 48.51 percent of this group were loans from illegal sources.
69.92 percent had problem in repaying their debts.
60.7 percent of the labor sector was still worried about the economic problem, and they were not sure when they would be laid off.
The government was urged to give help to low-income earners the soonest.
The social security contributions would be cut from 5% to 3%, effective July 1, 2009.
Employee and employer each currently pay 5 percent of the salary to the Social Security Fund. This is based on the maximum salary base of 15,000 baht per month.
If the employee’s salary is higher than 15,000 baht a month, the contribution rate will then be 750 baht a month each.
