Average monthly salary in Taiwan rose to NT$40,792 in April

Average monthly regular salary in Taiwan rose to NT$40,792 in April, largest 4-month increase in 18 years

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Taiwan dollars.

Taiwan dollars. (By Central News Agency)

TAIPEI (Taiwan News) -- The average regular monthly salary in Taiwan rose to NT$40,792 (US$1,364) in April, a 2.27 percent increase over the same period last year, primarily due to an uptick in the manufacturing sector, announced the Directorate-General of Budget, Accounting and Statistics (DGBAS) on Monday (June 11), reported CNA.

According to statistics released by DGBAS in May, the average monthly wage from Jan. through Mar. averaged NT$40,000, a year-on-year increase of 2.71 percent, the highest increase over the same period in 18 years. For the month of March, the average salary reached NT$40,812, and increase of 2.59 percent, representing an increase of 2 percent for the fourth-straight month. 

In April of this year, the average annual regular salary increased to NT$40,792 (US$1,364), a year-on-year increase of 2.27 percent, representing a 2.57 percent increase from January, also the largest increase seen over the same period in 18 years.  

Pan Ning-hsin (潘寧馨), deputy director of the DGBAS' census department, said that according their survey of manufacturers for the month of May, 32.4 percent of manufacturers have raised or plan to raise their monthly wages in 2018, higher than the 28 percent who gave raises to their employees in 2017. Pan said that this clearly indicates a that manufacturers have a positive attitude toward raising wages.

Pan said that the recurring increase in wages can be attributed to a number of factors, including an economic recovery, the number of working days, raises given by manufacturers, and company operations. As for the monthly salary increases, earnings have gone up for five consecutive months by an average of 2 percent. 

As manufacturers have shown the largest monthly increase during this period, Pan attributes much of the rise in salaries to the manufacturing sector. 

Pan said another factor is overtime pay, which started going up from Jan. to Mar. of 2017 because of the new labor law, eventually reaching a record high of NT$1,693. Although there was a partial reversal in the labor law this year, average overtime pay still rose to a new record high of NT$1,768 in the first months of this year. 

The main reason why overtime pay continued to go up this year was because it is derived from base pay, which manufacturers steadily increased over the same time period, said Pan.