Taiwan’s minimum wage is to be raised by 5 percent, effective Jan. 1, the Ministry of Labor said yesterday.
The directive would increase the minimum monthly wage from NT$24,000 to NT$25,250 and the minimum hourly wage from NT$160 to NT$168, the ministry’s Minimum Wage Review Committee said.
The increases are pending approval by the Cabinet, which has in most cases in the past followed the committee’s recommendation.
The increases came close to wage hikes urged by labor groups, which called for 6 to 8 percent.
One business group had urged that the minimum wage should not be increased by more than 3 percent.
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Taipei, Oct. 7 (CNA) Taiwan is considering lifting the entry ban on migrant workers first put in place in late 2020 due to the COVID-19 pandemic, to address the country's dire labor shortage.
Most companies frown on the government’s suggestion that wages be increased next year, while only 93 percent could tolerate a 3 percent increase, as soaring materials and labor costs squeeze their profit margins, a survey released yesterday by the Chinese National Federation of Industries (CNFI, 全國工業總會) found.
The plea came one day before the Ministry of Labor is to discuss the matter, after floating an increase of at least 3 percent.
The Taipei-based trade group pressed the government to take a cautious approach, as a big majority of its member companies are seeing revenue and profit decline, even though Taiwan’s GDP growth