The number of employees in the nation who work 50 or more hours a week dropped below 10 percent of the total last year, showing a decrease for the fourth consecutive year, according to the latest data compiled by the Directorate-General of Budget, Accounting and Statistics (DGBAS).
Last year, only 8 percent of employees worked “very long hours” — defined as 50 hours or more per week based on the criteria set in the Organisation for Economic Co-operation and Development’s Better Life Index — a decrease of 2.2 percentage points from 2015 and the lowest percentage since 2006, the DGBAS said late last month.
The decline was attributed primarily to the amendment to the Labor Standards Act (勞動基準法) in January last year, which capped the number of regular work hours at 40 per week, the DGBAS said in a statement.
The data showed that employees in the 45-to-54 age group were most likely to work very long hours (8.4 percent), followed by those 55 and over (7.2 percent), although both figures declined slightly from the previous year, the DGBAS said.
The data also pointed to a gender gap among employees who work very long hours.
It showed a difference of 3.8 percentage points between male and female employees who were married or living with partners, and a smaller gap of 0.2 percentage points between separated or widowed employees.
In the 15-to-24 age category, the percentage of women working very long hours was higher than men, while in the over-25 age group, the opposite was true, the data showed.
Gender is an inevitable factor in the number of hours a person chooses to and can work, since societal norms in Taiwan require that women cater more to family needs after they get married, said Hsin Ping-lung (辛炳隆), an associate professor at National Taiwan University’s Graduate Institute of National Development.
‧ Last year, only 8 percent of employees worked more than 50 hours a week.
‧ Employees in the 45-to-54 age group were most likely to work very long hours.
‧ In the 15-to-24 age category, the percentage of women working very long hours was higher than men.
Source: the Directorate-General of Budget,
Accounting and Statistics
POOR INTERNAL CONTROLS: Insurance Bureau Director-General Shih Chiung-hwa said the company is expected to get back on track while its chairman is suspended The Financial Supervisory Commission (FSC) yesterday fined Shin Kong Life Insurance Co (新光人壽) NT$27.6 million (US$939,415) for a reckless investment that endangered its solvency, and suspended its chairman Eugene Wu (吳東進) for poor supervision. The penalty is the second-highest in a single case after Nan Shan Life Insurance Co (南山人壽) was fined NT$30 million in September last year and its chairman Du Ying-tzyong (杜英宗) suspended for two years, the commission said. In three rounds of special and regular examinations conducted since last year, the commission found that Shin Kong Life had given too much power to an asset and liability management committee
Sony Corp has cut its estimated Play Station 5 (PS5) production for this fiscal year by 4 million units, down to about 11 million, following production issues with its custom-designed system-on-chip (SOC) for the new console, people familiar with the matter said. The Tokyo-based electronics giant in July boosted orders with suppliers in anticipation of heightened demand for gaming in the holiday season and beyond, as people spend more time at home due to the COVID-19 pandemic. However, the company has come up against manufacturing issues, such as production yields as low as 50 percent for its SOC, which have cut into
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
O2O BICYCLE SHOW: The Taiwan Bicycle Show next year is to be online to offline, with forums, audio-visual conferences and livestreaming of the offline events Local bicycle makers expect demand to continue outpacing supply due to orders triggered by the COVID-19 pandemic, with some companies seeing orders back up through next year. “Next year is all full in terms of orders. Our lead time on components is one year,” Giant Manufacturing Co Ltd (巨大機械) chairwoman Bonnie Tu (杜綉珍) told a news conference in Taipei organized by the Taiwan External Trade Development Council (TAITRA) to announce next year’s Taipei Cycle Show. The pandemic has reduced bicycle supplies and increased demand around the world, Robert Wu (吳盈進), chairman of KMC (Kuei Meng) International Inc (桂盟國際), one of the world’s