Bank of Thailand warns that despite rising tech/AI investment and exports, job creation has plummeted—new investments now generate only half the jobs-to-capital ratio they did five years ago (0.20 vs 0.45 jobs per million baht). The central bank identifies three structural headwinds: new business openings cannot offset closures, companies increasingly hire foreign workers over Thais due to skill gaps, and temporary contracts are replacing permanent roles. This labor-market structural shift signals rising unemployment ahead.