Taipei: The Ministry of Labor (MOL) is preparing to review the minimum wage for the upcoming year on September 24, with expectations that the monthly rate will exceed NT$30,000 (US$948). This anticipated increase comes after the government expressed its support for raising the minimum wage.
According to Focus Taiwan, the MOL issued a notice on Friday to inform members of the Minimum Wage Review Committee about the meeting scheduled for 10 a.m. on September 24. The committee, which is composed of representatives from the government, labor, management, and academia, conducts an annual review of minimum wage levels during the third quarter.
Currently, Taiwan's minimum wage is set at NT$29,500 per month and NT$196 per hour. There is a strong expectation that the committee will approve an increase to push the minimum wage beyond NT$30,000, aligning with the goals stated by President Lai Ching-te and Premier Cho Jung-tai.
Premier Cho reiterated his support for raising the minimum wage above NT$30,000 during an online program on Wednesday. He cited Taiwan's record economic growth and strong performance in global rankings as justifications for the anticipated increase.