TAIPEI (TVBS News) — How much do you spend on a meal nowadays? For many office workers in Taiwan, it's getting more and more expensive to get take-outs as the daily cost of their lunches often falls between NT＄200 and NT＄300.
Amid high inflation and soaring interest rates, the costs of rent and meals have become a source of tension for many. As the wages increase in Taiwan falls short of the rising daily costs, many wonder whether businesses can step up and adjust salaries.
According to surveys conducted by local job banks, around 92% of office workers on average hope to switch jobs in 2023 due to low wages. Also, 94% office workers hope to see a 9.5% wage increase in 2023 while around 11% hope to see a 20% increase in the following year.
However, a 9.5% wage increase may still not be enough.
"If we look at the Year of the Tiger, about 94% of the working people's overall expenses have increased," Yang Tsung-pin, a spokesperson for a local job bank said. He pointed out that expenses on food and beverages, rent, and entertainment have become major economic pressure points for a lot people.
"In fact, for some people working away from home, it is possible that a 9.5% raise is not enough," Yang remarked. Taiwan's export orders have also been in a slump as global demands become sluggish due to high inflation and interest rate hikes.
Experts predict that the situation may only get better in the latter half of 2023. Following the COVID-19 pandemic, Taiwan is working hard to get back on its feet, though the sluggish economy may need more time before it gets better.
