Real earnings down in Taiwan in first nine months of the year

The real monthly earnings of Taiwanese workers in the first nine months of 2016 were down about one percent from the same period a year earlier and at about the same level they were 15 years ago, according to government figures released on Tuesday.

Real earnings, which include regular wages such as salary and irregular income such as bonuses and overtime and are adjusted for inflation, averaged NT$47,853 per month in the January-September period, Directorate General of Budget, Accounting and Statistics (DGBAS) figures showed.

That was down 1.01 percent from the NT$48,343 figure averaged over the same period in 2015, after two years of real earnings growth above 3 percent. It was also similar to the real monthly earnings of NT$47,841 averaged in the first nine months of 2000.

Without adjusting for inflation, average monthly earnings hit an all-time high of NT$50,097 during the period, but the rate of growth of 0.24 percent was well below the 4.37 percent and 3 percent growth seen in 2014 and 2015 respectively, according to the DGBAS figures.

Real regular wages (including only salaries and fixed bonuses or subsidies, adjusted for inflation), remained stagnant, rising 0.06 percent year-on-year during the January-September period to NT$37,390.

That was the highest since the global financial crisis battered global economies and trade in 2008, depressing wages in Taiwan for years, but was still lower than the average real wage seen in 2000.

In September, regular monthly wages before inflation averaged N$39,135, up 0.99 percent year-on-year but lower than the monthly average wage for each of the previous six months.

Source: Focus Taiwan News Channel