Average regular salaries in June up 2.46%

Taipei, Aug. 11 (CNA) The average monthly salary earned by workers in Taiwan rose by more than 2 percent from a year earlier for the seventh consecutive month in June, according to Directorate General of Budget, Accounting and Statistics (DGBAS) figures.

The average regular salary in Taiwan rose 2.46 percent to NT$40,846 (US$1,331) in June from NT$39,855 in June 2017, the data showed.

Average earned income, which includes regular salary plus bonuses, overtime pay and other irregular income, rose 7.20 percent from a year earlier to NT$47,969, according to the data.

In the first six months of the year, average regular salary was up 2.55 percent from a year earlier to NT$40,745, and average earned income was up 3.66 percent to NT$55,435, the DGBAS data indicated.

Adjusted for inflation, however, real average regular salary and real average earned income rose by only 0.89 percent and 1.98 percent, respectively, in the first half year-on-year, reflecting higher inflation in Taiwan this year than last.

Pan Ning-hsin (???), deputy director of the DGBAS' census department, said higher economic growth has led an increasing number of employers to be more willing to raise salaries.

Taiwan's gross domestic product (GDP) grew 3.29 percent from a year earlier in the second quarter, beating a DGBAS estimate of a 3.08 percent rise made in May.

The strong second quarter showing could lead the DGBAS to raise its 2018 GDP growth forecast from the current projection of 2.60 percent to 2.65 percent.

In addition to a better economy, Pan said, the strong growth in average earned income also resulted from bonuses for the Dragon Boat Festival, which fell on June 18 this year after falling in May in 2017.

The DGBAS said average working hours in June totaled 165.7, down 16.9 hours from a year earlier, while average overtime hours totaled 8.2, up 0.4 hours from a year earlier.

The average overtime pay in June rose 8.53 percent from a year earlier to NT$1,833, the DGBAS said.

Source: Focus Taiwan News Channel