COST OF LIVING/Labor ministry formally announces 4% minimum wage hike in 2023

09/14/2022 09:44 PM
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Minister of Labor Hsu Ming-chun (left) explains the minimum wage hikes proposed by a review committee under her ministry on Sept. 1. CNA file photo
Minister of Labor Hsu Ming-chun (left) explains the minimum wage hikes proposed by a review committee under her ministry on Sept. 1. CNA file photo

Taipei, Sept. 14 (CNA) The Ministry of Labor (MOL) on Wednesday officially announced that Taiwan's minimum monthly and hourly wage will rise by 4.55 percent and 4.76 percent, respectively, from Jan. 1, 2023.

The announcement, which follows a recommendation made by the ministry's Minimum Wage Review Committee on Sept. 1, will raise the minimum monthly wage from the current NT$25,250 (US$812) to NT$26,400, and the minimum hourly wage from NT$168 to NT$176.

In total, 2.32 million Taiwanese will benefit from the wage hike, including 1.752 million workers earning monthly salaries and 574,000 workers earning hourly wages, the ministry said.

The MOL has previously defended the raise as a compromise between business and labor interests, and said that it will help offset the impact on low-income workers of inflation, which is forecast to rise to 2.92 percent this year.

(By Wu Hsin-yun and Matthew Mazzetta)

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