Taiwan to raise minimum monthly wage by less than 1pct in lowest hike since 2016

19-Aug-2020 Intellasia | TaiwanNews | 6:02 AM Print This Post

The official minimum monthly wage is expected to rise 0.84 percent to NT$24,000 (US$815) per month from next January 1, the lowest rate of increase since a freeze in 2016.

The present minimum monthly salary stands at NT$23,800 (US$808), while the hourly wage, now at NT$158 (US$5.37), will rise by 1.3 percent to NT$160 (US$5.43), CNA reported.

While the consensus was reached at a meeting Tuesday (August 18) of a review committee consisting of representatives of labour, employers, academics and the Ministry of Labour, the Cabinet still has to give its final approval before the changes can go ahead at the beginning of the new year.

Employers remarked that a high increase would lower the willingness of businesses to go out and recruit more staff.

Over the past decade, hikes of the minimum monthly wage ranged from 1.2 percent to 5 percent, with the single exception the freeze in 2016. For the hourly wage, increases ranged from 3.2 percent in 2012 to 7.1 percent in 2019, with the planned 1.3 percent agreed upon Tuesday as the lowest rate of increase in a decade.

https://www.taiwannews.com.tw/en/news/3989745

 

Category: Taiwan

Print This Post

Comments are closed.