Towards Social Protection 4.0 : An Assessment of Thailand’s Social Protection and Labor Market Systems
This paper reviews Thailand’s social protection (SP) and labor market systems, to assess how they can be strengthened to address the key trends that will shape its society and economy in the coming decades. Thailand’s aging population, persistent h...
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| Language: | English |
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World Bank, Bangkok
2021
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| Online Access: | http://documents.worldbank.org/curated/en/637711622718440573/Towards-Social-Protection-4-0-An-Assessment-of-Thailand-s-Social-Protection-and-Labor-Market-Systems http://hdl.handle.net/10986/35695 |
| Summary: | This paper reviews Thailand’s social
protection (SP) and labor market systems, to assess how they
can be strengthened to address the key trends that will
shape its society and economy in the coming decades.
Thailand’s aging population, persistent high levels of
workforce informality and the changing nature of work are
already putting pressure on the current system, leaving most
workers without protection from shocks or the ability to
smooth consumption over their life cycle. For most of the
growing elderly population, the small Old Age Allowance is
the only form of income support. Although Thailand has made
remarkable progress on poverty reduction in the past two
decades, the poverty rate ticked up in 2016 and again in
2018, due to a slowing economy, droughts and wage
stagnation, and the economic impacts of COVID-19 will
further erode hard-won poverty gains. Adapting to changing
skill needs and increasing automation requires lifelong
education and training to meet rapidly evolving labor demands. |
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