The public is clamoring for the government to zero in on critical issues like poverty, escalating household debt, and surging unemployment, as per the latest findings of the Suan Dusit poll. Conducted by Suan Dusit Rajabhat University, the survey took the pulse of 1,146 respondents to capture their views on the most urgent matters afflicting Thais post-Covid-19 pandemic, researcher Pornphan Buathong revealed yesterday.
From the survey results, a staggering 79% of respondents disclosed grappling with the skyrocketing cost of living. Additionally, about 70% admitted to being entangled in debt struggles, with many resorting to borrowing to make ends meet. When asked to detail their debt situation, around 27% mentioned that debt and loans swallow up between 50-80% of their monthly budget. Almost 40% indicated that debt claims about 20-50% of their monthly earnings, while approximately 25% stated that it consumes less than 20% of their finances.
Last year was particularly harsh for nearly 48% of respondents, who reported experiencing job layoffs. Consequently, there is a resounding call for the government to prioritize job creation and income enhancement. Respondents urged the authorities to expedite the implementation of flagship policies promised during the election campaign, especially those that deliver concrete benefits, aiding citizens in securing steady incomes and better debt management.
Moreover, the majority of participants expressed a desire for the government to widen job opportunities, foster small businesses, promote vocational training, and strengthen the social security system. Siri Chara-um, a lecturer of Management Sciences at Suan Dusit University, pointed out that a significant factor behind the high lay-off rate is the deficiency in digital skills among Thai workers.
The proliferation of consumer loans, credit cards, leasing, and various forms of personal loans from financial institutions is also fueling the high household debt levels, Siri Chara-um added. Without a concerted effort to instill financial discipline among households, the debt situation is likely to deteriorate further.
This is truly alarming. Makes you wonder what the government has been doing all this while.
Right?! How could they let things get so bad? It’s as if they are just turning a blind eye.
I think some people expect too much from the government. Personal responsibility plays a big part in financial health too.
I agree with personal responsibility, but there needs to be a balance. People should be able to rely on their government for support in hard times.
Perhaps it’s time we look into NGOs or private sector solutions. They might be more efficient.
The lack of digital skills is something the government can fix quickly with the right programs. Why haven’t they done so?
Probably because such programs aren’t prioritized in the budget. They prefer short-term fixes over long-term solutions.
That’s short-sighted thinking. Enhancing digital skills would make the workforce more competitive globally.
Maybe the budget is tight, but they should still focus on this. Long-term benefits are worth it.
Possibly because there are too many moving parts and bureaucratic hurdles. Implementing such programs isn’t as simple as we think.
Debt is becoming a global issue, not just in Thailand. But clearly, more needs to be done to help people manage it.
Completely agree. Financial literacy should be taught in schools to prepare the younger generation.
Yes! Starting financial education early can instill better money habits.
Absolutely. If people are better educated about finances, they can avoid pitfalls like high-interest loans.
The issue is also cultural. There’s a stigma around discussing debt, and many people are ashamed to seek help.
Maybe the economic problems were inevitable post-COVID. Every country is struggling right now.
True, but it seems like Thailand’s issues are being exacerbated by poor policy decisions.
That’s possible. It’s a complex situation for sure.
Governments had time to prepare, though. Some countries have bounced back better than others.
Job creation is the key to solving many of these issues. Without jobs, everything else crumbles.
Agreed, job creation should be the cornerstone of any economic recovery plan.
We need to foster small businesses. They are the backbone of the economy.
Small businesses need support with digital transformation to thrive in today’s market.
Expediting flagship policies is a must. We’ve heard enough promises, now we need action!
Absolutely, the time for talk is over. We need tangible results.
Household debt levels paint a grim picture. We need better financial regulation.
I think promoting vocational training is a brilliant idea. Not everyone needs a college degree to succeed.
The government should also strengthen the social security system. People need a safety net.
This problem is so big that it requires a multi-faceted approach. No single policy can fix everything.
It’s sad that people have to borrow just to make ends meet. This shouldn’t be happening in a developed country.
What kinds of jobs are people being laid off from? Maybe the market is shifting and people need to adapt.
While digital skills are important, traditional skills shouldn’t be completely ignored either.
True, but without digital skills, it’s tough to stay relevant in many industries today.
The government should reduce red tape and make it easier for businesses to hire.
It’s astounding that almost 50% faced job layoffs last year. That’s a significant number.
What about freelancers and gig workers? Are they considered in these statistics?
We need a comprehensive overhaul of how debt is managed and regulated.
Yes, and also how lenders operate. They make it too easy for people to fall into debt.