IPA: /ˈθaʊzəndθ/
KK: /ˈθaʊzəndθ/
A part of something that is divided into one thousand equal pieces, or the position of something that is number 1,000 in a sequence.
She finished in the thousandth place in the race.
Thousandth → It is formed from "thousand" (from Old English "þūsend", meaning a group of one thousand) and "-th" (a suffix used to form ordinal numbers). The word "thousandth" refers to the ordinal position of one part in a group of one thousand.
Think of a group of one thousand ('thousand') and how 'th'-'th' indicates its position in order, meaning it's the one part out of that group.
No commonly confused words.