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Nearly 80% of businesses froze salaries in 2011: survey

Nearly 80% of businesses froze salaries in 2011: survey

Taipei, Oct. 30 (CNA) About 80 percent of employers in the manufacturing and service sectors froze salaries for employees in 2011, while the number of layoffs also increased that year due to slow economic growth, according to the results of an official survey published Tuesday.
Only about 21.8 percent of businesses in the manufacturing and service sectors provided pay increases in 2011, an increase of 4 percentage points from the same period of 2010, according to statistics compiled by the Directorate General of Budget, Accounting and Statistics. In addition, about 4.1 percent of employees in these sectors were laid off in 2011, up from 3.5 percent in the previous year, the statistics show.
Officials said the layoffs occurred mainly in the fourth quarter due to slower economic growth compared with the year's previous quarters.
On employee salaries over the past three years, the average annual salary stood at NT$633,376 (US$21,666) in 2011, up from NT$588,500 in 2009, according to the survey results. Most notably, employee salaries were raised via non-regular items, including overtime, bonuses and dividends. Non-regular pay accounted for 16.8 percent of employees' annual pay packages in 2011, up from 13.4 percent in 2009, according to the statistics provided by the government. Meanwhile, the country's consumer price index has increased by 2.4 percent from 106.47 in 2009 to 106.98 in 2011, offsetting the modest gains, according to the official statistics. On the differences in pay between full-time and part-time employees, part-time employees were paid an average monthly salary of NT$17,641 in 2011, while full-time employees were paid NT$38,321 per month, according to the survey. (By Lin Hui-chun and Ann Chen)


Updated : 2021-03-02 10:18 GMT+08:00