News
Inflation offsets average wage gains in January
By ECCT staff writers
The average regular earnings of full-time employees with Taiwan nationality (excluding the foreigners and part-time employees) were NT$47,939 in January 2023, an increase of 2.57% from the same month in 2022. According to a news release from the Directorate General of Budget Accounting and Statistics (DGBAS), irregular earnings such as year-end bonuses, performance bonuses and overtime pay was NT$66,878. After adding the irregular earnings, the average total earnings were NT$114,817, an increase of 1.7% from the same month last year.
However, salary rises were not enough to offset the rise in inflation given the fact that Taiwan’s Consumer Price Inflation rate rose by 3.05% year-on-year in the same month.
The average regular earnings of all employees (including full-time and part-time employees with Taiwan nationality and foreigners) was NT$45,376, an increase of 2.3% from the same month last year. Average irregular earnings were NT$62,360. After adding the irregular earnings, the average total earnings was NT$107,736, an increase of 1.52% from the same month last year. The regular hourly earnings of part-time employees was NT$207, an increase of 0.49% from the same month last year.
Irregular earnings among industries varied. Those working in the Financial & Insurance industries had irregular earnings of NT$201,260 while Information & Communication had NT$93,276. Those in manufacturing earned NT$65,853, the Manufacture of Electronic Parts & Components NT$84,969. Nevertheless, those working in Accommodation & Food Services (including travel agencies) were both under NT$20,000.
