Taiwan’s regular wage up over 2.42pct in July

14-Sep-2019 Intellasia | FocusTaiwan | 6:02 AM Print This Post

The average regular wage in Taiwan rose 2.42 percent from a year earlier in July after a 2.33 percent year-on-year increase in June, indicating that regular wages in Taiwan grew in a stable manner, according to the directorate general of Budget, Accounting and Statistics (DGBAS).

However, real wages stayed at a similar level they were at 17 years ago after inflationary adjustments.

Data compiled by the DGBAS showed that the average regular wage for July stood at NT$41,927 (US$1,344), up NT$992, or 2.42 percent from a year earlier. On a month-on-month basis, the July average regular wage also rose 0.40 percent, the data indicated.

Pan Ning-hsin, deputy director of the DGBAS census department, told reporters that the growth on both the year-on-year basis and month-on-month basis showed that Taiwan’s wages still grew steadily, while the economic growth showed signs of moderating amid a global trade war.

The average earned income, which includes regular salary plus bonuses, overtime pay and other irregular income, also rose NT$1,307, or 2.53 percent, from a year earlier to NT$53,017 in July, the DGBAS said.

The DGBAS said the average irregular wage for July soared 62.3 percent from a month earlier to NT$11,090, since many employers issued bonuses. The July average irregular wage also rose 2.9 percent from a year earlier, the DGBAS added.

In the first seven months of this year, the average regular wage stood at NT$41,702, up 2.32 percent from a year earlier, while the average earned income also grew 1.81 percent to NT$56,360.

But after inflationary adjustments, the real average regular wage rose only 1.78 percent from a year earlier in the seven-month period, and the real average earned income rose only 1.27 percent, the data showed.

The average number of overtime hours for July, however, fell 0.6 hours or 7.32 percent from a year earlier to 7.6 hours, marking the ninth consecutive month of decline, indicating that a slowing economy has affected the job market.

In July, the average number of working hours in July rose 6.9 hours or 3.92 percent from a year earlier to 183 hours, the DGBAS said.

In the first seven months of the year, the average number of overtime hours fell 3.70 percent from a year earlier to 7.8 hours and the average number of working hours also fell 0.12 percent to 166.3 hours, the DGBAS added.

http://focustaiwan.tw/news/aeco/201909120003.aspx

 


Category: Taiwan

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