TAIPEI (TVBS News) — The Ministry of Labor (MOL, 勞動部) on Wednesday (Sept. 4) estimated that after the 4.08% minimum wage hike, the annual cost increase for labor, employers, and the government will be approximately NT$1.02 billion, NT$20.252 billion, and NT$1.063 billion, respectively, totaling around NT$22.335 billion.
The wage hike marks the first adjustment under the new Minimum Wage Act (最低工資法). This decision, made after a nearly four-hour discussion among labor, employer, government, and academic representatives, sets the monthly wage at NT$28,590 and the hourly wage at NT$190.
According to MOL statistics, the adjustment will benefit 1.895 million monthly wage workers, including 1.527 million local workers and 368,000 migrant workers. For hourly wage workers, around 676,800 will benefit from the increase.
Next year, the monthly minimum wage will rise to NT$28,590. With this increase, labor insurance premiums will also increase, affecting the financial responsibilities of employers, workers, and the government.
