Regular wages in Taiwan increased 2.40% in May

After inflationary adjustments, the growth in average regular wages in the first five months of the year was only 1.77 percent year-on-year, while that of average earned income was 1.27 percent. (Nownews)
After inflationary adjustments, the growth in average regular wages in the first five months of the year was only 1.77 percent year-on-year, while that of average earned income was 1.27 percent. (Nownews)

TAIPEI (CNA) — The average regular wage in Taiwan rose 2.40 percent in May from a year earlier, while non-regular wages surged 9.55 percent year-on-year, government data showed on July 10.

The average regular wage in May was NT$41,865 (US$1,373), up 2.40 percent year-on-year and exceeding 2 percent growth for the third consecutive month, according to the data.

The monthly growth in average regular wages was 0.27 percent, the data released by the Directorate General of Budget, Accounting and Statistics (DGBAS) showed.

Meanwhile, the average earned income, which includes regular salary plus bonuses, overtime pay and other irregular income, rose 3.48 percent in May from a year earlier to NT$49,815, the DGBAS said.

In the first five months of the year, average regular wages increased 2.29 percent from a year earlier to NT$41,641, the DGBAS said.

However, the average earned income was NT$58,492 in the January to May period, an increase of 1.79 percent from a year earlier, which was the smallest growth in nearly three years, according to DGBAS statistics.

After inflationary adjustments, the growth in average regular wages in the first five months of the year was only 1.77 percent year-on-year, while that of average earned income was 1.27 percent.

Pan Ning-hsin (潘寧馨), deputy director of the DGBAS census department, told reporters that the growth of average earned income in the first five months of the year was low because of smaller bonuses, overtime pay and other irregular income than in the previous year due to a slowdown of the domestic economy.

Despite that, however, many employees were willing to raise salaries, as reflected in the year-on-year growth in regular wages in May, Pan said.

In May, average working hours in the manufacturing sector fell for the eighth consecutive month, Pan added.

In the first five months of the year, average overtime hours in the sector dropped 0.3 hours from a year earlier, Pan said.

Although the average regular wage increased in May, the slight drop in average overtime hours in the manufacturing sector in the first five months of the year indicated that the sluggish economy had affected the employment market, though not to any great extent, Pan said.

By Pan Tzu-yu and Evelyn Kao