Real wage growth in Taiwan reaches highest level in 11 years — Taipei Times

In Taiwan, real growth in total earnings during the first eight months of the year amounted to 2.66%, the highest figure in 11 years. Income growth was supported by strong export growth and relatively moderate inflation, Taipei Times reported, citing Taiwan’s Directorate-General of Budget, Accounting and Statistics.

Wages in August

Average regular monthly wages in August rose by 3.28% year-on-year to NT$52,523. Average total monthly earnings, which include bonuses, overtime pay and other payments, increased by 6.64% to NT$69,520.

Tang Wen-ling, deputy director of the agency’s census department, linked the trend to export growth. According to her, employment, regular wages and workers’ total earnings increased compared with last year, while the number of overtime hours continued to rise.

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Differences between sectors

The median regular monthly wage in August increased by 3.46% to NT$41,353, substantially below the average figure. During the first eight months of the year, the median regular wage rose by 3.06% to NT$39,383, while the average increased by 2.94% to NT$49,110.

The largest increase in regular wages among major industries was recorded in the finance and insurance sectors, up 5.85% to NT$75,313. In manufacturing, the figure rose by 3.47% to NT$51,661, and in wholesale and retail trade, by 3.52% to NT$50,414. The accommodation and food services sectors showed the weakest growth, with wages rising by only 0.4% to NT$38,871.

In August, average working hours stood at 172.9 hours, 0.5 hours more than a year earlier. Average overtime hours rose by 0.1 hours to 8.9 hours, reflecting steady demand for labor amid high demand for artificial intelligence equipment, the agency said.