Average monthly wages in June advanced 2.47 percent year-on-year to NT$45,429 (US$1,430), although the figure represented a mild 0.14 percent retreat from the level in May, the Directorate-General of Budget, Accounting and Statistics said yesterday.
Including performance-based commissions, overtime and bonuses, total wages grew 2 percent year-on-year to NT$53,900, but softened 1.55 percent month-on-month, the agency said.
People working at airline companies enjoyed the highest monthly wages at NT$81,664 on average, while those at financial and insurance companies were in second place with NT$66,587, followed by employees of electricity and gas suppliers at NT$65,775, the agency’s data showed.
Photo: CNA
By contrast, people working at hair salons and restaurants had the lowest monthly wages of NT$30,977 and NT$33,865 on average respectively, the data showed.
In the first six months, average monthly wages increased 2.47 percent year-on-year to NT$45,357, while overall compensation picked up 1.57 percent to NT$62,008, the agency said.
Adjusted for inflation, average monthly wages in the first six months grew 0.14 percent year-on-year, but total wages declined 0.73 percent, the first contraction for the period in seven years, Census Department Deputy Director Chen Hui-hsin (陳惠欣) said.
The agency yesterday also released the employment data for workers in the industrial and service sectors, showing their numbers had dropped 3,000 in June to 8,164,000, as local manufacturers shed headcount to cope with a business slowdown.
Chen said the local job market remained stable, but firms in the manufacturing segment shrank their payroll more evidently by 5,000 to digest a continued inventory glut.
Major Taiwanese technology firms have offered conservative business outlooks for the current quarter, saying that their global clients were standing by a cautious inventory strategy at odds with the advent of a high season for technology products. Sticky global inflation and interest rate hikes have also weighed on demand for nonessential goods and services, Chen said.
The number of hours of overtime worked fell 5.62 percent to 8.4 hours per person in June, as firms looked to control costs, the agency said.
In the first six months, the number of workers in the industrial and service sectors increased by 17,000 to 8,157,000 from a year earlier, with accommodation and restaurant operators increasing headcounts by 8,000, entertainment and leisure businesses adding 7,000 and construction companies adding 4,000, the agency said.
Manufacturing jobs were down by 12,000 as compared with a year earlier, it added.
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
Tokyo Electron's Taiwan unit today said in a written response that it respects the judicial process, takes the court ruling seriously and would not appeal in the Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) trade secrets case. Last month, a court fined the Taiwan unit of Japan's Tokyo Electron NT$150 million (US$4.74 million) in a case involving trade secrets related to TSMC's sensitive chip technology.
ROUGH RECORDS: Bonds in Japan, as well is in New Zealand, Australia and the US, are seeing the effects of a nervy market as stock exchanges across Asia edge down A deepening slump in Japanese government bonds added fuel to the selloff in global debt markets as rising oil prices stoked inflation fears and pushed yields to multi-decade highs. Japan’s 30-year yield yesterday surged as much as 20 basis points to the highest level since the tenor’s debut in 1999, before paring some of the move. Shorter-maturity Japanese debt was also under pressure, underscored by weak demand at a sale of five-year notes that offered a record-high coupon of 2 percent. Concerns over inflation and government spending rippling through markets including the US, Australia and New Zealand are being amplified in Japan,
Wall Street is licking its chops over an unprecedented slate of massive initial public offerings (IPOs) set to arrive in the coming months, beginning with Elon Musk’s Space Exploration Technologies Corp (SpaceX) next month. That is expected to be followed by artificial intelligence (AI) rivals OpenAI and Anthropic PBC. The trio of mega listings, each eyeing valuations around US$1 trillion or more, constitutes a heady period of elevated risk and reward. SpaceX is targeting an IPO that would raise up to US$80 billion — about double the funds generated from all IPOs last year. OpenAI and Anthropic are eyeing IPOs raising US$60 billion. “We’re