TAIPEI (TVBS News) — The Directorate-General of Budget, Accounting and Statistics (DGBAS, 行政院主計總處) reported Wednesday (July 10) a significant rise in Taiwan's wages for the first half this year. The average regular wages for employees in the industrial and service sectors reached NT$46,105 in the first four months of this year, marking a 2.39% year-on-year increase. The average wage rose to NT$67,856, reflecting a 3.62% growth.
After adjusting for inflation, actual regular and monthly compensation were NT$43,133 and NT$63,482, respectively. Both showed positive growth for the first time in three years, which indicates that wage increases have finally caught up with inflation.
Chen Hui-hsin (陳惠欣), Deputy Director of the DGBAS Department of Census (主計總處國勢普查處副處長), pointed out that company wage adjustments, minimum wage hikes, and increased company bonuses are all factors contributing to positive wage trends.
The official statistics showed that the economic recovery has started to reflect in wage levels. However, not every employee shares the same economic improvements with their respective companies. A local job bank’s 2024 survey revealed that 56% of employees have not received a raise in over three years, with 11.6% not seeing a raise in over ten years.
The DGBAS noted varying salary growth across industries, with significant wage hikes focused on specific sectors. For instance, regular wages in the finance, insurance, and real estate sectors increased by 6.46% and 3.54%, respectively, and monthly compensation in these sectors also grew by 4.11% and 9.6%, but the same could not be said for other industries.
An office worker surnamed Huang, pointed out " I believe few specific industries, such as semiconductors, IC design, or blockchain, have significantly felt wage hikes."
Kuo Yu-chen (郭昱辰), a senior consultant at Adecco Taiwan, observed: "The reason for this industry's (finance) relatively high wages is its sufficient growth speed and profitability. For example, a year's worth of variable bonuses in the financial sector can equal five or six months' compensation, where the percentage is significant."
Though the official statistics show a positive salary trend, discrepancies lie between industries, remaining an issue that requires long-term solutions from the government.