minimum wage increase 結果共8筆

Explore how Taiwan’s eighth consecutive minimum wage increase impacts the job market, with insights from experts and challenges faced by young adults. Learn about the strategies for navigating salary disparities and inflation.

Taiwan is set to increase its minimum wage for 2024, benefiting approximately 2.39 million workers. Monthly basic wages will rise from NT$26,400 to NT$27,470, a 4.05% increase, benefiting 1.79 million workers. Hourly wages will also see a boost from NT$176 to NT$183, benefiting around 600,000 workers. The changes will affect labor insurance premiums, with employers bearing an extra cost of NT$2,307, workers contributing NT$659, and the government chipping in NT$329. This marks an increase of NT$89, NT$25, and NT$13, respectively, compared to the existing system. The adjustment will also impact the categorization of labor insurance premiums and retirement monthly contributions schedules. While the wage hike will increase labor costs, it provides an important boost for workers in challenging economic times.

Discover the latest insights from Taiwan’s job market, including the widening income gap, low salary increase expectations for 2024, and varying pay trends across industries.

Taiwan People’s Party (TPP) legislator Lai Hsiang-ling has called for the inclusion of a formula in the Minimum Wage Act to guarantee that wage adjustments are not lower than the inflation rate. Meanwhile, New Power Party legislator Chiu Hsien-chih has demanded that representatives from the Ministry of Labor (MOL) be involved in the wage deliberation committee and that evaluation reports be made public before meetings. Lai has expressed concern about the lack of changes in the current draft of the Minimum Wage Act and the limited number of academic representatives on the committee. She has proposed increasing the number of labor representatives and considering factors such as the consumer price index annual increase rate, previous year levels, rent, and employment dependency ratios in annual wage adjustments. Lai has also suggested barring non-compliant small and medium-sized enterprises (SMEs) from participating in government tenders.

According to a national economic confidence survey by Cathay Financial Holding, approximately half of respondents believe their salaries will increase in 2024, showing a more optimistic outlook compared to last year. About 25% of respondents anticipate a pay hike of more than 3%. This comes after the Ministry of Labor’s decision to raise the minimum wage by just over 4% in 2024. 64% of respondents reported that their income has remained unchanged over the past six months, while 18.1% said it has increased and 17.9% said it has decreased. Looking ahead to next year, 25.2% of respondents expect a salary increase of more than 3%, a significant increase from last year’s survey. The survey also reveals that respondents predict the country’s economic growth rate to stay at 1.6%, with only around 21% believing it will surpass 2% this year. In terms of inflation expectations, the median value remains steady at 2.5%, with 84% of respondents believing this year’s inflation rate will be more than 2%. Overall, the public maintains a conservative outlook on economic expansion, while inflation expectations remain higher.

Taiwan’s Executive Yuan has approved a five-year plan to enhance care services for the physically and mentally challenged. The plan involves investing over NT$48 billion to expand community care and day-care centers, as well as raising the minimum wage of service personnel to NT$37,700.

The Ministry of Labor has resolved in a meeting on Friday to raise the minimum monthly wage in 2024 to NT＄27,470, and the hourly wage will increase by NT＄7 to NT＄183.

Taiwan’s Minister of Labor, Hsu Ming-chun, confirms the upcoming deliberation on raising the minimum wage by 3-3.2%. Citizens express concerns over inflation’s impact on their livelihoods.