(20-05-2013)
Ministry
of Labour (MOL) holds a seminar on development of labour early warning
system for 2012-2014 as it plans to improve the system database and
labour early warning model for better forecast accuracy. The seminar
helps improve analytical skills of MOL officials on labour economics and
enables them to develop new econometric models for forecast of labour
situation.
Mr. Poonsak Sethanandha, Deputy Permanent Secretary of Ministry of Labour,
said when opening the seminar on development of labour early warning
system for 2012-2014 of Office of the Permanent Secretary of Ministry of
Labour, that the project aims to improve forecast accuracy on labour
trend and to develop new models to predict labour situations in longer
term and in other dimensions such as in industrial sector and oversea
markets.
Mr.
Poonsak said the labour early warning system must be improved in
parallel with labour early warning model which has been continually
developed for over a year. The model was first developed under a
research program and tested to make monthly and quarterly forecast on
labour situation.
The
ministry has continually worked to improve the system so it can better
response to labour situation and deepen its understanding of the labour
market. The ministry needs to speed up improving analytical skills of
MOL officials on labour economics and enables them to develop new
econometric models to forecast labour situation on their own and follow
situations in each industry more closely.
The
development project for labour early warning system for 2012-2014 has
objectives to improve database of the system to suit with standard
industrial classification for 2009, develop labour early warning model
for better forecast accuracy, develop new labour early warning models
which can predict labour situations in longer term and in other
dimensions such as in industrial sector and oversea markets, improve the
labour early warning system in parallel the development of labour early
warning model and enhance analytical skills of MOL officials on labour
economics and enables them to develop new econometric models for
forecast of labour situation.
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