Krungthai Compass, a research unit under Krungthai Bank, expects the minimum wage increase to reduce the number of poor workers, improve their income, and broadly support long-term Thai economic growth.
The proportion of low-income labourers who live below the country's poverty line, earning 2,726 baht per head per month under the National Economic and Social Development Council's definition for 2020, has been declining for the past 10 years, partly due to minimum wage hikes.
