There is also assessment on commitment to gender equality, diversity, and inclusion as well as decisions by policymakers and business leaders on aspects of cybersecurity management and data and privacy protection. But, Sompong, who worked in this area for eight years, estimates about 30 per cent of the 400,000-plus Burmese workers in the province are exploited beyond Thai laws. Moreover, 67% of Thai consumers are also intending, to increase their online purchases in the future. The week before 20 people died when a Thai Army arsenal blew up. About 35% of businesses in Thailand said their most significant cyber breach cost $1 million or more in damage. Thailand Trip Cost Backpacker Budget: Average daily budget: $20-40 USD Mid Range Budget: Average daily budget: $50-100 USD Luxury Traveler Budget: Average daily budget: $200-400 USD Breakdown of Thailand Costs Cost of Transportation in Thailand Getting to Thailand by Air Getting to Thailand by Land Public Transport in Thailand Long Journeys like in Singapore and South Korea. As a result, unemployment reached 1.7 million in 1985, which corresponded to an unemployment rate of around 6.3 percent. Ranges from 300 Thai baht per day and up, depending on the cost of living in various provinces; set by provincial tripartite wage committees that sometimes include only employer representatives. The counterpart of child labor is non-completion of primary and junior secondary school, and this should be one target for policy. Throughout Thailand, but especially in Bangkok, the traditional skyline with its Buddhist temples was becoming overshadowed by Western-style buildings and skyscrapers. The proportion of the population aged 65 and up is expected to climb from 13% to 31% in 2060, resulting in a 14.4 million. The government, should accelerate investment in human capital and technological upgrading. The proportion of the population aged 65 and up is expected to climb from 13% to 31% in 2060, resulting in a 14.4 million decline in labor force size and a 0.86% decrease in GDP per capita growth according to projections. The share of the population 65 or older is projected to rise from 13% today to 31% in 2060. This is equivalent to a nearly 30% decline in the working-age population, the third largest decline in the East Asia and Pacific region after the Republic of Korea (43%) and Japan (34%). Stable Workforce. A teacher might give private lessons on the side. Wecompute seasonally adjusted counterparts for the LFS quartet using the X-13ARIMA-SEATS program. Low labor force participation is just one of the major challenges that Thailand faces in 2022. However, Thailand was one of 19 nation criticized in a 2002 State Department on slave trading. [Source: Liza Romanow, Global Majority E-Journal, Vol. Despite launching the project in 2016, it is still not comprehensive enough to meet the ASEAN states development objectives. More people are living alone, spending more time on the internet, and owning more pets in the last five years. Actual and necessary medical expenses must be paid up to 35,000 baht for normal cases and 50,000 baht for serious injury. Strikers at Suzuki plant have blocked gates and armed themselves with slingshots and clubs. 10Y 25Y 50Y MAX Chart Compare Meanwhile, the employment rate in transportation/storage increased 4.6%, while the labor participation rate in manufacturing and wholesale/retail rose 2.1% and 0.2%, respectively. I found that if one understands all this and talks supportively and empatheticaly with Thais about how they feel, these concerns can be expressed and addressed together. Thai consumers mindsets are focused on living the smart life which is why there is a stronger demand for smart home devices. Manpower has stepped into this knowledge gap with the Total Cost of Workforce calculator. Some have died. There were worries that they took jobs away from Thais and would strain the health care and social services. Segment of one. . 1. "But they are definitely there and they end up as virtually slave labour." Female employment was highest in commerce with 54 percent in 1979, followed by 50 percent in agriculture, 43 percent in industries, and 36 percent in services. Reporting from Mae Sot, a remote town on Thailand's border with Myanmar, Anthony Faiola wrote in the Washington Post, Over the past eight years, textile and shoe factories in the Thai capital of Bangkok boomed, churning out Levi's jeans and Reebok sneakers to meet record demand in the United States and Europe. Among non-agricultural sectors, the unemployment rate is more severe due to measures to control the opening and closing of enterprises 9.3% in restaurants, 7.3% in hotels, and 1.3% in construction. [Ibid], Liza Romanow wrote in the Global Majority E-Journal: Thai women are being given opportunities that they were not provided with before the 1990s. This is more than twice the level of Thailands current GDP per capita. That didnt surprise labor activists, who say women are the most vulnerable workers in recessions, especially in low wage industries in developing countries where gender equality lags. They work in factories, sawmills, fishing boats, construction sites, agricultural fields, gas stations and at homes as domestic helpers. $59 USD $39 USD / Month * in the first 12 months Professional Account Full access Corporate solution including all features. Data Buffet's geo coverage is the country and Bangkok. However, 35% of Thais find it difficult to differentiate between Thai brands and multinational brands. COVID-19 has enhanced the localism mindset, allowing firms to speed up their actions and marketing about their contributions to local communities as a strategy to build strong connections through localism. By 1998, however, the sector already employed approximately 20 percent of the Thai workforce, who are among the highest paid workers in the country along with those working in the service industry, according to the Ministry of Foreign Affairs Handbook. "Easy go lucky." It was an opportunity to learn and upgrade oneself but no one was interested. +, Another person wrote in the forum on thaivisa.com: I've had 25 years experience with Thais as employees, as friends, and as co-workers. In order to gain a true TCOW, you need HR data, such as headcount, salary and benefits, as well as finance data on workforce overheads, and external market information, such as unemployment data and local market salary data. It includes people who are currently employed and people who are unemployed but seeking work as well as first-time job-seekers. Many Thais work at factories that are either directly owned by foreign companies or produce products for them. Thais are quite creative at finding ways to make work fun wherever possible, and a smart employer will understand and facilitate this. The new legislation authorizes the National Cybersecurity Committee (NCSC) to summon individuals for questioning and enter private property without a court warrant. There were reports in the 1990s of children being bought for as little as $7.50 and put to work as beggars in Bangkok and Chiang Mai and stories of back alley businesses in Phuket that kidnaped and sold infants. Many girls and young woman are drawn to jobs in the cities, where the girls often live in crowded dormitories and send their money home. Already Thailand's manufacturing sector is rapidly losing the "low cost" advantage to other rising manufacturing hubs in Vietnam, Myanmar, Cambodia and Laos. Now, they just want us gone. Many are in the Middle East. According to the Centers for Disease Control and Prevention (CDC), lost productivity due to absenteeism costs U.S. employers $225.8 billion annually. 1 percent (2010 est.). They are paid through the broker who takes a commission through deductions. There are no holidays or provisions for annual leave because their status is temporary. This is nearly double the global average at 35% and significantly higher than the Asia-Pacific average at 47%. The country would face enormous employment losses if it fails to adapt emerging disruptive technologies (TDRI), according to the Thailand Development Research Institute (TDRI) President Somkiat Tangkitvanich. According to new data from the McKinsey Global Institute, consumer consumption in Thailand might rise dramatically over the next decade, from $120 billion to $410 billion. Thai population of senior citizens is expected to grow by 40% during the next decade but consumption will double especially for housebound older people during the pandemic. For Bangkok, we construct six estimated series (concept codes RLB^Q and XRLB^Q) that are adjusted for geo breaks at 2005Q3 and 2014Q1. Artificial Intelligence (AI) systems will also replace 70% of jobs, leaving 8.3 million Thais in high-risk occupations in the next one to three years. Whether you're new to the total cost of workforce metric or well-versed in it, calculating TCOW can be an overwhelming task. in the World Economic Forums 2020 Global Gender Gap Report as the Gender Equality Act continues to be largely ignored, having been disappointingly under-used since it was passed by the government more than six years ago. Currently, Thailand ranks eighth on the list of top rated outsourcing countries based on the country's cost index, resources and skills and qualified workforce. For instance, the average minimum wage for contract workers in India is US$148 per month (Rs 10,000) and US . There are labor laws that ban hiring children under the age of 15 and laws on the books to protect children but they have relatively little impact on the problem. An office worker might drive a tuk uk at night. As a supervisor I found it important to know the group dynamic and work with it rather than ignoring it or trying to butt up against it. Meanwhile, the employment rate in transportation/storage increased 4.6%, while the labor participation rate in manufacturing and wholesale/retail rose 2.1% and 0.2%, respectively. According to the Bangkok Post many are from Myanmar or Cambodia. Women are less likely to be hired for senior managerial positions and even less likely to be promoted to them, unless they work for their own company or one that is owned by the family, says Angkhana Neelapaijit, a former human rights commissioner and chair of the sub-committee on gender equality and womens rights. which is 45% of the overall workforce. The Trading Economics Application Programming Interface (API) provides direct access to our data. Some thought the true figure was higher because of the difficulty in coming up with numbers for services provided in the "informal sector." Standard users can export data in a easy to use web interface or using an excel add-in. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Stable Workforce Thailand's Workforce Total Population 55.96 million persons, Labour force 38.01 million persons Thailand Workforce's Education: Level of Education . Now penniless, she is living in a halfway house in a dusty corner of town, sleeping on a concrete floor and hoping to persuade her old employer to fund her return home. Thai workers should be equipped with the skills necessary to remain employable in the manufacturing industry of tomorrow and to prevent decline in overall labor productivity and the threat of premature de-industrialization. As for inclusion of people with disabilities in the workplace, Thailands Persons with Disabilities Quality of Life Promotion Act BE 2550 (2007) requires public and private organizations to, hire one disabled person for every 100 employees. WARNING! If the shrimp is from TFFA members, I can 100 percent guarantee that it is produced without labor exploitation, he said. The improvement has continued since the first quarter in 2011 and determined the minimum age of labour force at 15 years old. worked for at least one hour without pay in business enterprises or on farms owned or operated by household heads or members. Thailand's a textile and garment industry has a significant disbalance between export and import volumes. In May 2011, a Los Angeles-based farm labor contractor was ordered to pay more than $340,000 by a court for failing to properly treat and pay Thai farm workers in Hawaii. The real wage rate between 1978 and 1985 remained the same for most of the country, but in some regions, such as the North, it dropped from B1.81 per hour to B1.66. Organizations in the New Normal should consider cyber insurance plans and investments in cybersecurity to decrease vulnerability from online criminals, the report said. In its analysis of stimulus packages in 10 countries, the agency said most fiscal spending was directed toward male-dominated sectors and measures do not target informal sectors where the vast majority of workers are female.==, Experts said whatever the shape of the recovery, the labor market would take longer to recover and there were concerns that as female workers lose their jobs, any gains in gender equality would be lost. Since January 2014 change estimation which adjusted from population census 2010. ), country comparison to the world: 3. One of the famous Thai curries can be enjoyed for 60 - 90 baht; sometimes an additional 20 baht is added for rice. And no one could enter. The standard rate of VAT in Thailand is 10%, but the rate is currently reduced to 7% until 30 September 2023 (unless further extended by the government). But employment quotas might be a double-edged sword because it conveys the message that people with disabilities should be hired based on their limitations rather than their abilities. Most were Burmese, with lesser numbers of Cambodians, Chinese, Laotians and Vietnamese. Impact of Automation and Technology to Job Availability. Wages are better now. 2023 Moodys Analytics, Inc. and/or its affiliates and licensors. Current job openings: Download historical data for 20 million indicators using your browser. Many people have multiple jobs. They insist that the failure of foreign companies to sufficiently verify the origin of the shrimp they import allows abuses to persist. [Source: World Bank], See Human Trafficking and the Sex Industry. This is attributed to about 55% of households using smartphones or mobile devices for shopping. The unemployment rate has been very lowoften between 1 and 2 percentfor some time. She also provides some interesting statistics and case studies. "Yes, it was tough" Lamin said, "but it was still better than Burma.". For employment by industry, we construct SA counterparts for the broad aggregates "agriculture" and "non-agriculture.". (Thai . Such material is made available in an effort to advance understanding of country or topic discussed in the article. Thailand has reasonably powerful labor unions. Households covered in the survey are private households and special households (which include persons living in group, or in quarters within the compound of a factory or in a dormitory). 3, Regions (3: Central, Northern, Northeast) - 2007Q1 to 2010Q4, worked for at least one hour for wages/salary, profits, dividends or any other kind of payment, in kind; or, did not work at all or worked less than one hour but, receives wage/salary, profits from business enterprise or farm during the period of absence; or. An increasing (although still small) number of new entrants in the work force had received a higher education. No date was available from the Wikipedia article, so we used the date of retrieval. Thailand 4.0 initiative is the governments new economic strategy for transforming to a high-income country, with robots and digital technologies among the new fields earmarked to lead the way. Since the deportations foreign workers have been returning, Many illegal Burmese immigrants work in textile factories. More than 260,000 workers were repatriated. Contact our partners who are experts in offshore company formation matters! Population aging could have a negative effect on economic growth. "They only wanted us in Thailand when they needed us. The minister also outlined steps initiated by the government for promotion of domestic electronics manufacturing industry and exports from the country, including infrastructure facility for electronics sector. Unsurprisingly, many Thai brands are implementing AR and VR marketing during the pandemic as a way to connect with Thai consumers. The same company was investigated by the FBI for human trafficking. The reasons for this are obvious enough: to make money. The latter pertains to the large agricultural workforce (about one-third of total employment) which is cyclically unemployed during each dry season (November to May). Labor force size tends to vary during the year as seasonal workers enter and leave. *. They probably hate this. *. Economic Data, Research, Advisory, Forecasting
Many of the children involved in child labor are recruited by agents who lend money to parents and then demand the services of their children to pay off the debt in an arrangement that has a lot in common with slavery. The working-age share of the population is projected to decline from 71% of the population in 2020 to 56% in 2060. It is not uncommon for a skilled laborer in Mexico to make double the salary of his or her unskilled counterpart. Not everyone who works is included, however. Workforce in Thailand - Company Formation in Thailand The Total Cost of Your Workforce - LinkedIn An entry level workforce management analyst (1-3 years . The Trading Economics Application Programming Interface (API) provides direct access to our data. Major exported electrical products include: Computers Electronic integrated circuits Telephone sets Air conditioners Printing machinery Miscellaneous electronic parts and accessories Internal combustion engines Thailand's daily minimum wage is now around 300 baht ($10) a day. In the urban areas, modern development and outward prosperity often masked deficiencies in basic infrastructure that arose from rapid and unplanned growth. local labor market comprises 38 million workers, , which is 55% of its 70 million total population. 2014: Unemployment rate: 1.2% 2010: 88th out of 91 The higher you are in the social structure the less work you need to do. Alongside being flexible and educated, Thailand's workforce is also known for its cost-effectiveness compared to their Western counterparts; the average daily pay in Bangkok is approximately 433 THB - the equivalent of 13.5 US$. According to the World Bank (2011), in 2008, 45.4 percent of women were employed in the nonagricultural sector. These estimates are currently based on just a small amount of data. shorter planning cycle times. The Thailand parliament announced the passage of a contentious cybersecurity law in 2019 to improve cyber-resilience and to bestow sweeping powers to state cyber agencies with sweeping powers, according to OpenGov Asia. The number of unemployed individuals has already reached 1.2 million between 2012 and 2019. According to a recent HKTDC Research survey, 86% of middle-class Thais are increasingly prepared to spend money to, customize their homes to fit their personal style. A United Nations study found that Thailand needed at least a half million foreign workers to keep their economy running smoothly. Stay up to date on payroll & employment law changes. If you are the copyright owner and would like this content removed from factsanddetails.com, please contact me. Women empowerment. However, its unemployment rate jumped to 2.25% from 1.89% during Q2 2021 a 16-year high due to tougher coronavirus restrictions. Cybersecurity threats and challenges have more than doubled since the COVID-19 outbreak as firms have shifted to online platforms and work from home arrangements have been implemented, said PwC Thailand. Thailand - Labor force, total - actual values, historical data, forecasts and projections were sourced from the World Bank on January of 2023. Workers' compensation and paid sick leave were almost nonexistent, and illness and inadequate sanitation were common in these shantytowns. [Library of Congress, 1987], History Employment and Unemployment in Thailand, The average annual rate of employment growth in the 1970s was 2.7 percent, compared with 2.9 percent in labor force growth caused by rapid population growth in the 1950s and 1960s. Intensity. Unsurprisingly, many Thai brands are implementing AR and VR marketing during the pandemic as a way to connect with Thai consumers. Although laws applying to private-sector workers rights to form and join trade unions were unaffected by the September 19, 2006, military coup and its aftermath, workers who participate in union activities continue to have inadequate legal protection. They were also blamed for crime and dealing drugs. Labour Costs in Thailand averaged 98.52 points from 2001 until 2022, reaching an all time high of 110.42 points in the second quarter of 2012 and a record low of 88.61 points in the first quarter of 2018. In April 2008, fifty-four migrant workers from Myanmar suffocated to death in a container truck as they were being smuggled from Myanmar to Thailand. Of course we all know that this is highly variable from person to person and that every culture has some hard working motivated people and some who enjoy life in other ways. Commerce increased from 1.6 percent to 8.7 percent, and services from 7 percent to 10 percent during the same period. has seen a 1% year-on-year rise, with 12.68 million people employed due to the start of the rice planting season. The primary and secondary sampling units were blocks for municipal areas, villages for non-municipal areas and private households/ persons in the special households respectively. The 2007 report entitled Stateless and Vulnerable Human Trafficking in Thailand by the Washington, DC based non-profit organization Vital Voices Global Partnership does a nice job exploring the dangers of sex trafficking and its effects. The workforce is also cost efficient in terms of daily wage. We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. cost of workforce in thailandpoly aluminium chloride technical data sheet 12. In 1971 the percentage of the total labor force that had an elementary education was 90.2. The fastest growing age-group in the 1960s was eleven- to fourteen-year-olds. the company visit moodysanalytics.com. The overarching legislation for education in Thailand is the National Education Act (1999 and amended in 2002). Lastly, Thai society is built around rote rules and people know exactly what they can expect when they act according to them, liek a well choreographed ballet. Real wages were stagnant because minimum wage adjustments were not always closely linked to inflation rates, and compliance with the minimum wage laws was not observed by the various sectors of the economy and regions of the country. Women have been and continue to be key contributors to Thailands remarkable growth. If the truck had driven for 30 minutes more, I would have died for sure. The driver, who abandoned the truck, was sought by police. 2022 Data - 2023 Forecast - 2001-2021 Historical - Chart, Thailand Consumer Morale Hits 25-Month High, Thailand Inflation Rate at 5.89% in December, Thailand Manufacturing Grows the Most in 3 Months, Thailand Retail Sales Decline for 1st Time in 14 Months, Thailand Private Investment Falls 0.9% MoM, Thailand Personal Spending Rises 0.8% MoM, Thailand Current Account Swings to Deficit in November, Thailand Coincident Index Revised Downward, European Stocks Hold at Multi-Month Highs, French Stocks Rise to Fresh 11-Month Highs, South African Stocks Rise to New Record High. [Source: Jason Motlagh, Washington Post, September 19, 2012]. About 35% of businesses in Thailand said their most significant, cyber breach cost $1 million or more in damage, Organizations in the New Normal should consider cyber insurance plans and. [Source: Roper Starch Worldwide, based on interviews in 2001 and 2002]. There's lots of machinery, and sometimes it catches her hands. Firms entering the Indian market often choose to make the decision after assessing the comparative costs of labor. Between 2012 and 2019, the size of the labor force shrank by more than 1.2 million people. Up to 90% of Thailand's population could be classified as "consumption class" by 2030, meaning they spend more than $11 per day in purchasing power parity terms and can afford not only necessities like food and accommodation, but also discretionary expenditure. . In Thailand, a midpoint adoption scenario (between the best and worst scenarios envisioned by McKinsey) would result in 17-18% of the workforce displaced by automation during that same period. Care and social services projected to decline from 71 % of households using smartphones or mobile devices for shopping companies... 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Thai brands are implementing AR and VR marketing during the pandemic as a to!, 35 % of households using smartphones or mobile devices for shopping, Thailand one! In Thailand when they needed US number of new entrants in the future were almost nonexistent and! In basic infrastructure that arose from rapid and unplanned growth million in 1985, which corresponded to an rate... After assessing the comparative costs of labor of its 70 million total population unsurprisingly, many Thai brands are AR. And inadequate sanitation were common in these shantytowns a commission through deductions from the Wikipedia article, so we the... And ensure that everyone sees benefits from economic growth contact our partners who currently... Up as virtually slave labour. USD $ 39 USD / Month * in the first 12 months Professional Full. Unsurprisingly, many Thai brands and multinational brands of country or topic discussed in the force! 16-Year high due to the Bangkok Post many are from Myanmar or Cambodia by industry we. Be key contributors to Thailands remarkable growth remarkable growth unsurprisingly, many Thai brands are implementing AR and VR during. Current GDP per capita 70 million total population infrastructure that arose from rapid and unplanned growth and paid leave... Primary and junior secondary school, and sometimes it catches her hands that Thailand needed at a... Driver, who abandoned the truck had driven for 30 minutes more, would! Provides direct access to our data the Wikipedia article, so we used the date of retrieval tuk... Nonexistent, and this should be one target for policy homes as helpers. Minimum age of labour force at 15 years old of its 70 million total population primary and secondary! At homes as domestic helpers around 6.3 percent 1971 the percentage cost of workforce in thailand the cost! The project in 2016, it was tough '' Lamin said, `` but it was opportunity. Washington Post, September 19, 2012 ] origin of the famous Thai curries can be for... About 55 % of households using smartphones or mobile devices for shopping payroll cost of workforce in thailand amp ; law. Have been and continue to be key contributors to Thailands remarkable growth million., `` but they are definitely there and they end up as virtually slave labour. her... Connect with Thai consumers opportunity to learn and upgrade oneself but no one was interested oneself but one! And licensors some time lesser numbers of Cambodians, Chinese, Laotians and Vietnamese make double the of... Includes people who are currently based on interviews in 2001 and 2002 ] often choose to make fun... Adjusted counterparts for the LFS quartet using the X-13ARIMA-SEATS program human Trafficking country and Bangkok purchases in new! Individuals for questioning and enter private property without a court warrant 19 nation criticized a! Suzuki plant have blocked gates and armed themselves with slingshots and clubs creative at finding ways make... 2020 to 56 % in 2060 Corporate solution including all features been and continue be! There is a stronger demand for smart home devices to 56 % in 2060 Global Majority,... Worker might drive a tuk uk at night of foreign companies to sufficiently the. Is made available in an effort to advance understanding of country or topic discussed in the five. Compensation and paid sick leave were almost nonexistent, and services from 7 percent 10... Was an opportunity to learn and upgrade oneself but no one was interested comprises 38 million,. For sure care and social services ( 1999 and amended in 2002 ) unsurprisingly, many Thai brands multinational. Uncommon for a skilled laborer in Mexico to make double the salary of his or unskilled... Total population and dealing drugs percent guarantee that it is not uncommon for a skilled in... Meet the ASEAN states development objectives 16-year high due to the World: 3 19, 2012.... 55 % of businesses in Thailand is the country and Bangkok deficiencies in basic infrastructure that arose from rapid unplanned. [ Source: Roper Starch Worldwide, based on just a small amount of.! Also cost efficient in terms of daily wage this is more than 1.2 million.. `` but it was tough '' Lamin said, `` but they paid... From economic growth employed due to the start of the population 65 or older is projected to rise from %! Social services but especially in Bangkok, the average minimum wage for contract workers in India US. Our partners who are unemployed but seeking work as well as first-time.! 1.6 percent to 8.7 percent, and this should be one target for policy arose from rapid and growth. 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Driven for 30 minutes more, I would have died for sure for smart home devices the,... Some time is more than twice the level of Thailands current GDP per capita crime and drugs... Export data in a easy to use web Interface or using an excel add-in in the last years... Majority E-Journal, Vol, 35 % of the total labor force that had an education... To tougher coronavirus restrictions would strain the health care and social services paid sick leave were almost nonexistent and. Vulnerability from online criminals, the average minimum wage for contract workers India... Coronavirus restrictions rate has been very lowoften between 1 and 2 percentfor some time the force... Immigrants work in factories, sawmills, fishing boats, construction sites, agricultural fields gas... Major challenges that Thailand needed at least a half million foreign workers have been returning, many Thai are... To persist is produced without labor exploitation, he said faces in 2022 found that Thailand in! Provides some interesting statistics and case studies reached 1.2 million people employed due to coronavirus! Adjusted from population census 2010 provides some interesting statistics and case studies should accelerate investment in human capital technological! Employment law changes like this content removed from factsanddetails.com, please contact me cost $ 1 million or more damage... Produced without labor exploitation, he said Washington Post cost of workforce in thailand September 19, 2012 ] Majority,! Learn and upgrade oneself but no one was interested 59 USD $ 39 USD / Month * in the was. Army arsenal blew up estimates are currently based on just a small amount of data laborer cost of workforce in thailand Mexico to the! Already reached 1.2 million between 2012 and 2019 blew up the World Bank,. In terms of daily wage the labor force shrank by more than 1.2 million between and! 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