Thai Chamber of Commerce (TCC) chairman Sanan Angubolkul said the agency agreed with moves to boost the minimum wage because rising inflation has triggered a surge in the cost of living. However, TCC vice chairman Visit Limlurcha said the impact of rising production costs in each business sector is different. Also, he said, the increase in the minimum wage may subsequently increase the price of goods and services, thus resulting in an impact on consumers. Visit said the minimum wage increase will boost production costs by 5 to 20 per cent, depending on the number of workers a business has. For instance, he said, industries that are automated may only face a 5 per cent increase in production costs.

Source: The Nation Bangkok August 09, 2022 08:35 UTC