TAIPEI (Taiwan News) — Wage growth in Taiwan is beating inflation, lifting real wages to their highest level in five years, the Directorate-General of Budget, Accounting, and Statistics reported Friday.

The agency said average regular wages from January to July reached NT$47,651, a 2.98% increase from a year earlier, per CNA. Adjusted for inflation, real regular wages stood at NT$43,624, up 1.09%, the fastest growth since 2021.

In July, average regular wages rose 2.89% year-on-year to NT$47,891. Non-regular pay such as bonuses and overtime added NT$17,692, lifting total wages to NT$65,583, a 5.48% rise.

Median regular wages, which are less skewed by outliers, stood at NT$38,291 in July, up 2.46% from last year. The agency said wage growth has been driven by higher minimum wages and company pay raises, with working hours also influencing pay levels, per Liberty Times.

Cumulative real total wages per worker reached NT$424,361 in the first seven months, a 1.86% increase and the strongest gain for the period since 2019. DGBAS Census Department Deputy Director Tan Wen-ling (譚文玲) noted that sustained wage growth reflects both labor market adjustments and inflation moderation.

Pay levels varied sharply across industries. Accommodation and food services averaged NT$34,977, while manufacturing stood at NT$45,637. By contrast, electronic component makers averaged NT$56,916, and finance and insurance topped the list at NT$70,749.

Professional, scientific and technical services reported average pay of NT$58,109, and publishing, audiovisual and information services averaged NT$69,407. DGBAS said these higher-paying sectors continue to pull overall averages upward.

Most industries recorded wage gains in the first seven months. Manufacturing rose 3.57% year-on-year, wholesale and retail trade 3.56%, and construction 3.43%, with electronic component manufacturing surging 9.43% thanks to strong year-end and performance bonuses.