Thailand has a diverse and robust informal labour sector—in 2012, it was estimated that informal workers comprised 62.6% of the Thai workforce. The Ministry of Labour defines informal workers to be individuals who work in informal economies and do not have employee status under a given country's Labour Protection Act (LPA). The informal sector in Thailand has grown significantly over the past 60 years over the course of Thailand's gradual transition from an agriculture-based economy to becoming more industrialised and service-oriented. Between 1993 and 1995, ten percent of the Thai labour force moved from the agricultural sector to urban and industrial jobs, especially in the manufacturing sector. It is estimated that between 1988 and 1995, the number of factory workers in the country doubled from two to four million, as Thailand's GDP tripled. While the Asian Financial Crisis that followed in 1997 hit the Thai economy hard, the industrial sector continued to expand under widespread deregulation, as Thailand was mandated to adopt a range of structural adjustment reforms upon receiving funding from the IMF and World Bank. These reforms implemented an agenda of increased privatisation and trade liberalisation in the country, and decreased federal subsidisation of public goods and utilities, agricultural price supports, and regulations on fair wages and labour conditions. These changes put further pressure on the agricultural sector, and prompted continued migration from the rural countryside to the growing cities. Many migrant farmers found work in Thailand's growing manufacturing industry, and took jobs in sweatshops and factories with few labour regulations and often exploitative conditions.