Focus Taiwan App
Download

COST OF LIVING/Average real monthly regular wages in April post first growth in 3 years

06/12/2024 09:55 PM
To activate the text-to-speech service, please first agree to the privacy policy below.
CNA file photo
CNA file photo

Taipei, June 12 (CNA) Average real monthly regular wages and average real monthly earnings in Taiwan's industrial and service sectors in the first four months of this year both rose for the first time in three years, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Wednesday.

Average real monthly regular wages in the January-April period rose 0.14 percent from a year earlier to NT$43,133 (US$1,333), the first growth since 2021, DGBAS data showed.

Before being adjusted for inflation, average regular wages rose 2.39 percent year-on-year to NT$46,105, according to the data.

Meanwhile, average monthly earnings, which are comprised of regular wages and non-regular wages, including overtime pay and bonuses, totaled NT$67,856, up 3.62 percent from a year earlier.

However, after being adjusted for inflation average real monthly earnings totaled NT$63,482, up 1.35 percent from a year earlier, marking the first increase since 2021.

Chen Hui-hsin (陳惠欣), deputy director of the DGBAS' Census Department, said the increase in real regular wages for the first four months can be attributed to solid demand for domestic services, booming export-oriented industries driven by increasing global demand, and lower inflation.

In recent years, high inflation has eaten into real wage growth. In April, Taiwan's consumer price index (CPI) rose 1.95 percent from a year earlier, below the 2-percent warning level the central bank set for inflation, DGBAS data showed.

In April, before being adjusted for inflation, average regular wages totaled NT$46,321, up 0.54 percent month-on-month and 2.77 percent year-on-year.

In the month, the total number of employees in Taiwan amounted to 8.421 million, an increase of 5,000 from March.

The number of employees who received a monthly regular wage of less than NT$50,000 accounted for 68 percent of the total, according to DGBAS data.

At the same time, average overtime work hours per employee in the manufacturing sector reached 16.2 hours in April, with overtime hours in the electronic component manufacturing sector that covers the semiconductor segment hitting 24.4 hours,the highest in 14 years, thanks to robust AI demand, according to the agency.

(By Pan Tzu-yu and Evelyn Kao)

Enditem/AW

View All
0:00
/
0:00
We value your privacy.
Focus Taiwan (CNA) uses tracking technologies to provide better reading experiences, but it also respects readers' privacy. Click here to find out more about Focus Taiwan's privacy policy. When you close this window, it means you agree with this policy.
172.30.142.49