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Taiwan's manufacturing sector shows positive signs in May: DGBAS

07/10/2024 09:01 PM
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CNA file photo for illustrative purpose only
CNA file photo for illustrative purpose only

Taipei, July 10 (CNA) The number of people employed in Taiwan's manufacturing sector rose by 1,000 in May, ending a negative growth streak of 21 months, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Wednesday.

If the number employed continues the trend, the DGBAS can be more sure of the manufacturing industry's improvement, said Chen Hui-hsin (陳惠欣), deputy director of the DGBAS' Census Department.

Meanwhile, the average overtime work hours in the sector maintained at 16.6 hours, the highest level since June 2023, Chen added.

Chen pointed out that the electronics components manufacturing industry has seen a particular boom on the back of the artificial intelligence frenzy.

The number of people employed in the industry increased by 2,000 in May, with an average overtime work hour at 24.5 hours, which marked the 11th month of consecutive growth.

Elsewhere in the general economy, 8.429 million people were in work at the end of May, marking a monthly growth of 7,000 people, or 0.09 percent, according to the DGBAS data.

In the first five months of 2024, the average regular earnings of all employees -- including full-time and part-time employees with Taiwanese nationality and foreigners -- was NT$46,173 (US$1,417), an annual increase of 2.46 percent.

In terms of real earnings, which takes into account price factors, the average regular earnings of all employees during the same period was NT$43,156, increasing 0.22 percent annually, according to the DGBAS.

Meanwhile, the real average total earnings -- including bonuses and overtime pay -- was NT$61,536, which increased by 1.6 percent annually.

(By Pan Tzu-yu and Wu Kuan-hsien)

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