Minimum Wage Increase to Be Proposed to Cabinet This Month

The Ministry of Labor is making headway on a crucial proposal to adjust the minimum wage rates and enhance workforce productivity ahead of the Cabinet meeting scheduled for September 25.

The aim is to secure approval by November, offering a timely New Year’s gift to the Thai people.

Labour Minister, Pipat Ratchakitprakarn led a delegation of ministry executives in talks with chairman of the Federation of Thai Industries (FTI) , Kriengkrai Thiennukul and members of the FTI committee to discuss the minimum wage adjustments and labor productivity enhancements at the FTI headquarters today.

Mr. Pipat stressed that the adjustment of minimum wage rates should align with the responsibilities of provincial tripartite wage committees and consider economic factors, inflation rates, GDP growth, workers’ problems and the employers’ ability to pay. To raise the minimum wage, the ministry will not adopt a one-size-fits-all approach, but rather implement a ‘pay by skills’ system.

Following these discussions, the Ministry of Labor is committed to ensuring that the minimum wage adjustment will indeed materialize in 2024.

Detailed negotiations will take place, encompassing both Thai and migrant labor forces, with the intention of presenting the proposal to the Cabinet for consideration on September 25.

The decisions will likely be announced in November, making it a New Year’s gift for the people of Thailand.

Source: Thai News Agency