Minimum Wage Hike Costing Jobs

The 300 baht minimum wage policy has cost nearly 3,500 workers their jobs in the past six months, reports Thailand Business News.

The minimum wage was first increased in April of 2012, in several provinces including Bangkok. On January 1, 2013, the 300 baht minimum wage was made official across the country. While the introduction of a national minimum wage would seem to delight the working class, it has cost some their jobs in more rural provinces.

FT.com reports that the hefty wage hike is a “short-term pain,” and is predicted to raise both living standards and productivity in the long-term.

Flickr photo courtesy of frigante