Cabinet approves minimum wage hike with effect from January
Sep 05, 2018LegalComments Off on Cabinet approves minimum wage hike with effect from January
Taipei, Minimum wages in Taiwan will be increased next year, the Ministry of Labor (MOL) announced Wednesday, following the Cabinet's approval of a wage hike proposal that was put forward by a special committee.
The monthly minimum wage will be raised by 5 percent and the hourly wage by 7.14 percent, in line with the recommendations of the MOL's Basic Wage Deliberation Committee, the ministry said.
The recommendations, put forward by the committee on Aug. 16, have been approved by the Cabinet and will take effect on Jan. 1, 2019, the MOL said in a public notice.
With the increase, the monthly minimum wage will rise from NT$22,000 (US$714) to NT$23,100 for some 1.8 million employees, including foreign nationals, while an estimated 456,000 workers will benefit from the hike in the hourly minimum wage from NT$140 to NT$150, the ministry said.
Commenting on the decision, Ho Yu (??), director of the Chinese National Federation of Industries, said labor costs in the industrial sector will increase by NT$39 billion a month.