Taiwan to discuss minimum wage hike for 2023

Taiwan is expected to increase the minimum wage for 2023 by at least 4% at a meeting next month amid persistent inflation.

The Minimum Wage Review Committee will convene on Sept. 1, to be attended by representatives from industry, government, academia, and labor groups, per CNA.

Economic factors will be taken into account in the discussion. Taiwan’s consumer price index rose over 3% year-on-year for the fifth consecutive month in July and the forecast for the annual CPI this year has been revised upward to 2.92%, the highest in 14 years.

The basic wages have been adjusted for six years in a row since President Tsai Ing-wen assumed office. Currently, the minimum monthly payment stands at NT$25,250 (US$841) and the minimum hourly wage is NT$168 (US$5.60), up from NT$21,009 and NT$133 in 2017, respectively.

Tai Kuo-jung, secretary-general of the Taiwan Confederation of Trade Unions said on Thursday, 18 August, a 4.8% hike can be anticipated based on the past adjustment ranges, Labor unions are calling for the monthly salary to be raised to NT$28,000, or an 11% growth, for Tsai to reach her objective of NT$30,000 before the end of her second term, according to UDN. (Story courtesy of Taiwan News)

Leave a Reply

Your email address will not be published. Required fields are marked *