THE IMPACT OF ECONOMICS POLICIES ON UNEMPLOYMENT TRENDS: A CASE STUDY OF THAILAND FROM 1991 UNTIL 2023
Loading...
Date
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Universiti Malaysia Sarawak (UNIMAS)
Abstract
Description
This study examines the impact of economic policies on unemployment trends in Thailand from 1991 to 2023. The study begins with an introduction highlighting the significance of unemployment and the importance of analyzing macroeconomic variables such as Gross Domestic Product (GDP), Labour Force Participation (LFP), Foreign Direct Investment (FDI), and Inflation Rate (IFR). Using Ordinary Least Squares (OLS) regression, the findings indicate that GDP, LFP, and FDI negatively influence unemployment, while IFR has a positive relationship with it. All variables show statistical significance, with the model explaining 56.26% of unemployment variation. The study also includes diagnostic tests confirming the validity of the regression. The results offer valuable insights for policymakers to formulate targeted, data-driven strategies to reduce unemployment and enhance economic resilience. This research serves as a reference for future policy planning, especially during economic shocks such as the Asian Financial Crisis and the COVID-19 pandemic.