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Real wages drop 2.36% as consumer prices rise

Real wages drop 2.36% as consumer prices rise

Taiwan's real wage dropped 2.36 percent in the first half of this year because of high inflation, according to statistics released Friday by the Directorate General of Budget, Accounting and Statistics (DGBAS).
It was the biggest drop since 1980, according to the DGBAS.
The tallies showed that the regular wages registered an increase of 1.44 percent in the January-June period, compared with the same period in 2007.
The growth, however, was offset by a 3.89 percent annual surge in the consumer price index (CPI) in this first half of this year, the DGBAS said at a press conference it held earlier in the day, noting that because of the CPI growth, real wages saw the largest decline in 28 years.
The DGBAS also pointed out that the number of employed population reached 2.34 million in the first seven months of this year, increasing 235,000 persons from the same period in 2007.
Analyzing the education levels of employees in the country, Huang Chien-chung, a DGBAS deputy department chief said the percentage of employees graduating from university or higher educational institutes increased to 22.5 percent in the Jan.-July period of this year from 10.8 percent in the same period of 1998.
The growth in people graduating from university or higher educational institutes over the past 10 years has, however, resulted in an increase in jobless for those higher education, Huang said, citing the latest statistics. He noting that the unemployment rate of the people with higher education reached 4.51 percent in the first seven months this year, representing the highest level since 1978.


Updated : 2021-06-13 16:36 GMT+08:00