TAIPEI (CNA) — The average regular wage rose more than 2 percent from a year earlier in November, the 12th consecutive month as the economy continues to improve from a year earlier in 2018, according to the Directorate General of Budget, Accounting and Statistics (DGBAS).
Data compiled by the DGBAS showed that the average regular wage in Taiwan rose 2.56 percent from a year earlier to NT$41,249 (US$1,339) after a 2.56 percent year-on-year increase in October.
Pan Ning-hsin (潘寧馨), deputy director of the DGBAS census department, said the wage increase shows that employers are still willing to pay more.
While some economic statistics show economic growth momentum is moderating, Pan said there are currently no signs the local job market and wages have been affected.
On Nov. 30, the DGBAS said it had cut its estimate for Taiwan’s GDP growth in 2018 by 0.03 percentage points from a forecast in August to 2.66 percent and downgraded its forecast for 2019 by 0.14 percentage points to 2.41 percent.
However, in November unemployment in Taiwan fell by 0.05 percentage points to 3.70 percent from a month earlier, pointing to a stable job market.
In the first 11 months of this year, the average regular wage rose 2.61 percent from a year earlier to NT$40,939, the DGBAS said.
Average earned income, made up of regular wages and non-regular wages such as overtime pay and bonuses, also grew 3.97 percent in the 11-month period from a year earlier to NT$52,059, the DGBAS added.
The increase in average earned income reflects the fact that employers have issued higher bonuses, with the 3.97 percent year-on-year rise the highest in eight years, Pan said.
According to Pan, the average non-regular wage totaled NT$11,120 in the 11-month period, up 9.3 percent from a year earlier, the highest growth in four years.
However, after inflationary adjustments, average regular wages rose only 1.10 percent during the 11 months from a year earlier to NT$38,179, while average earned income rose 2.44 percent from a year earlier to NT$48,549, the agency said.
The DGBAS said average working hours in November totaled 177.1, down 0.6 hours from a year earlier, while average overtime hours totaled 7.9, down 0.3 hours from a year earlier.
The average overtime pay in November rose 2.97 percent from a year earlier to NT$1,803, the DGBAS said.
By Pan Tzu-yu and Frances Huang