Real earnings per payroll employee fall amid rising prices

Average earnings per payroll employee within the industrial and service sectors recorded annual growth of 1.37 percent from January to August, but a rise in the consumer price index (CPI) meant a drop in real spending power, according to the latest official statistics.

Average monthly earnings per employee was NT$39,146 (US$1,234) from January to August, representing an annual increase of 1.37 percent, the highest ever in this period, said the Directorate General of Budget, Accounting & Statistics (DGBAS) on Monday.

However, an increase of 1.38 percent in the CPI over the first eight months of the year represents a drop in real earnings of 0.01 percent. Consequently, real payroll earnings registered a drop of 1.2 percent in the eight-month period, the DGBAS noted.

According to DGBAS statistics released on Monday, average monthly earnings per employee in the industrial and service sectors was NT$39,318 in August, an increase of 0.29 percent from the previous month and 1.4 percent year-on-year.

Average monthly earnings (including regular and irregular earnings) was NT$45,713 in August, down 2.57 percent from the previous month, but up 1.85 percent year-on-year.

Average monthly earnings from January to August reached NT$50,712, up 0.16 percent from the same period last year, the statistics show.

Source: Focus Taiwan News Channel