Technology and healthcare skills increasingly important
KResearch said workers would need to acquire new skills, particularly in technology and healthcare, to support both the shift towards targeted industries and Thailand’s transition into a super-aged society.
The research centre has previously warned that population ageing will intensify labour shortages in some industries, adding further pressure on businesses to improve productivity and adapt their workforces.
The challenge is therefore not only to create more jobs, but also to ensure that workers have the qualifications and practical capabilities required for those positions.
K-shaped recovery constrains hiring
KResearch identified three major issues likely to shape Thailand’s labour market.
The first is the continuing skills mismatch, requiring workers to reskill and upskill as demand changes.
The second is Thailand’s K-shaped economic recovery, in which businesses are recovering at different speeds. Weak consumer purchasing power, intense competition and persistently high operating costs continue to weigh on companies’ revenue and restrict their capacity to hire.
The third is technology disruption, particularly the growing use of artificial intelligence and automation in business operations.
Young graduates and lower-skilled workers face greater exposure to displacement as companies automate more processes, KResearch said.
Businesses will therefore need to strike a balance between their use of workers, AI and automation, while employees will increasingly need to develop skills that complement new technologies rather than compete directly with them.
For Thailand, narrowing the gap between what students learn and what employers need is becoming increasingly important as the country simultaneously faces technological change, an ageing population and rising demand for highly skilled labour.
Source: Kasikorn Research