Sep 10, 2018 General Comments Off on Taiwan’s average regular wages rise over 2% for eighth straight month
Taipei, The average regular wages in Taiwan rose 2.65 percent in July, marking the eighth consecutive month of an over 2 percent year-on-year increase at a time of an economic recovery, the Directorate General of Budget, Accounting and Statistics (DGBAS) said on Monday.
Citing data, the DGBAS said the average regular wages in Taiwan hit NT$40,933 (US$1,329) in July, up 2.65 percent from the NT$39,878 a year earlier.
That followed a 2.46 percent year-on-year increase in June.
Moreover, the regular wage growth was the highest-ever for July in nearly 19 years, the DGBAS said.
The data indicated the July figure was also up 0.27 percent from a month earlier.
Pan Ning-hsin (???), deputy director of the DGBAS' census department, said having eighth straight months of more than 2 percent increase in the average regular wages showed employers were becoming more willing to raise compensation for their employees.
The increase also echoed an earlier survey which found that 32.4 percent of enterprises in Taiwan either have raised wages or will offer higher pay to their employees this year.
In the first seven months of this year, the average regular monthly wages rose 2.55 percent from a year earlier to NT$40,769, the data showed.
But after inflationary adjustments, the average real regular wage only rose 0.88 percent to NT$38,105 in the seven-month period, the data indicated.
The average earned income, which includes regular salary plus bonuses, overtime pay and other irregular income, rose 6.90 percent from a year earlier to NT$51,669 in July, according to the data.
A spike in the average earned income came after some enterprises issued performance bonuses in the month, the DGBAS said.
In the first seven months of this year, the average earned income stood at NT$54,892, up 4.08 percent from a year earlier.
The DGBAS said after inflationary adjustments, however, the average earned income for the seven months rose only 2.39 percent from a year earlier to NT$51,306.
It said the average working hours in July totaled 175.5, up 4.5 hours from a year earlier, while average overtime hours totaled 8.1, up 0.3 hours from a year earlier.
The average overtime pay in July rose 9.36 percent from a year earlier to NT$1,835, the DGBAS said.
Source: Focus Taiwan News Channel