News
MOL announces minimum wage increase
The Ministry of Labor (MOL) has formally announced the official minimum wage for 2023. The move will increase the minimum monthly wage by 4.55% to NT$26,400 (up from NT$25,250 this year) and the minimum hourly wage by 4.76% to NT$176, starting on 1 January 2023.
The formal announcement follows a recommendation made by the ministry's Minimum Wage Review Committee on 1 September. According to the ministry, the rise will benefit 2.32 million workers. That total includes 1.752 million earning monthly salaries and 574,000 earning hourly wages.
The government is describing the minimum wage for 2023 as being a compromise between business and labour interests. Officials say it will help offset the impact on low-income workers of inflation, which is forecast to rise to 2.92% this year.
