TAIPEI (TVBS News) — A new national economic confidence survey shows approximately half of respondents believe their salaries will increase in 2024, fostering a more optimistic outlook than last year.
According to the survey released by Cathay Financial Holding on Monday (Nov. 20), about 25% anticipate their pay hike will be more than 3%.
The survey comes two months following the Ministry of Labor's decision to raise the minimum wage by just over 4% in 2024, from NT$26,400 to NT$27,470, per month, and the hourly rate from NT$176 to NT$183.
Also, 64% said their income has remained unchanged over the past six months with 18.1% reporting it has increased and 17.9% saying it's decreased.
The survey also reveals respondents' predictions regarding the country's economic performance. The average predicted growth rate stayed at 1.6% for the second month, with only approximately 21% believing it would surpass 2% for this year.
Respondents' inflation expectations remained steady for two successive months, with a median value of 2.5%. A substantial 84% believe this year's inflation rate will be more than 2%.
Overall, the public continues to uphold a conservative outlook on the economic expansion this year, yet expectations for inflation consistently linger at higher levels.
