Taiwan's Average Regular Monthly Pay Shows 4-Year High Rise of 4.11% in H1, 2014
2014/09/02 | By Judy LiDue to improving business climate, Taiwan's employees received higher salaries in the first half (H1) of this year, with monthly salary, overtime pay, reward, and bonus posting annual growth of 4.11% in H1, the highest four-year growth, according to Taiwan's Directorate General of Budget, Accounting and Statistics (DGBAS).
But the annual growth of average regular monthly pay would grow only 2.86% to NT$48,622 (US$1,620.7) if excluding inflation of 1.21% in the same period, lower than the corresponding NT$48,774 (US$1,625.8) of 1998.
Finance and insurance sectors witnessed the highest growth of 8.26% in basic pay in H1, followed by 7.96% in real estate. Wholesale & retail, lodging and F&B, educational & training service all witnessed 6%-plus rise in basic pay, with manufacturing recording a relatively lower growth of 2.62%.
Of the manufacturing industry, rubber products, textile, and electronic parts all saw 7%-plus rise in basic pay while the corresponding percentages of chemicals, leather products, plastic products, computer & electric products all stood at around 5%.
In June Taiwan's employed population reached 7.25 million persons, of which 2.68 million persons worked in manufacturing, accounting for 37% of the total with the percentage being lower than 1991's 49% and 2001's 41%.
Average Monthly Pay in Taiwan in H1, 1997,1998, 2011, 2013 & 2014 Unit: NT$ | ||
| Nominal monthly pay
| Real monthly pay
|
1997
| 41,225
| 47,567
|
1998
| 42,965
| 48,774
|
2011
| 48,851
| 49.087
|
2013
| 48,355
| 47,268
|
2014
| 50,343
| 48,622
|