Taipei: Taiwan's industrial and service sectors reported the highest growth in average monthly regular wages for the January-August period in 25 years, as employers across the board raised salaries, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Tuesday.
According to Focus Taiwan, data compiled by the DGBAS showed that the average monthly regular wage in the first eight months of the year stood at NT$47,709 (US$1,554), up 2.98 percent from a year earlier, marking the fastest increase for the eight-month period since 2000, when wages rose 3.07 percent. Tan Wen-ling, deputy director of the DGBAS Census Department, noted that as the economy continued to expand, many employers were keen to raise regular wages. She added that the government's continued minimum wage hikes also contributed to the higher average.
The DGBAS reported that the average regular wage in the industrial sector rose 3.46 percent from a year earlier, with the manufacturing segment seeing a 3.53 percent increase. The service sector's average monthly regular wage rose 2.65 percent. During the same period, average aggregate earnings, which include regular and non-regular pay such as overtime pay and bonuses, rose 3.87 percent year on year to NT$525,312.
After adjusting for inflation, the real average monthly regular wage increased 1.12 percent to NT$43,638, reaching a five-year high. Real average aggregate earnings rose 2.00 percent to NT$480,480, the fastest growth in seven years. Tan explained that the rise in real wages and earnings reflected moderating inflation.
To prevent distortion from high-income earners, the DGBAS also released median wage data. The average monthly median regular wage for the January-August period stood at NT$38,217, up 2.79 percent year on year. After inflation adjustment, the real median regular wage rose 0.94 percent to NT$34,956.
Driven by strong global demand for emerging technologies, the average overtime hours in the electronics components industry reached a 45-year high of 29.6 hours in August, compared with 17.3 hours for the manufacturing sector as a whole, the DGBAS reported. Tan attributed the higher overtime hours in the electronics components industry to rising demand for AI applications, as well as increased production related to Apple's iPhone 17 series. However, she added that traditional industries were hit by U.S. tariff policies and a global supply glut, leading to reduced overtime hours.