Taiwan’s average monthly wage surged in October as booming global demand for artificial intelligence (AI) and high-performance computing products continued to drive exports and manufacturing activity, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.
The average monthly regular wage reached NT$48,252, rising 3.8 percent year-on-year — the fastest increase in 26 years — while total compensation, including bonuses and overtime pay, soared 7.38 percent to NT$57,223, aided by overtime and Mid-Autumn Festival bonuses, the statistics agency said.
Overtime hours in the electronic components sector jumped to 30.4 hours, the highest in 46 years, as manufacturers ramped up production to meet growing export orders, DGBAS Deputy Census Director Tan Wen-ling (譚文玲) said.
Photo: CNA
Manufacturing overtime has recorded 17 consecutive months of growth, with electronic components extending their streak to 28 months, Tan added.
Overall wage growth has also been supported by minimum wage adjustments, corporate pay raises and bonus payouts tied to AI-related business momentum, she said.
With inflation easing, real total wages for the January-to-October period rose 2.22 percent — the strongest increase for the same period in nearly a decade, she added.
Taiwan’s median regular wage — a more reliable gauge of typical income than the average, which can be skewed by extreme values — reached NT$38,743 in October, up 3.99 percent from a year earlier, marking a continued, but more moderate improvement.
Industry disparities remain apparent, the agency said.
Sectors with higher shares of nonstandard employment, such as accommodation and food services, as well as support services, recorded relatively low median regular wages of NT$31,566 and NT$32,721 respectively, it said.
By contrast, technology and finance-heavy sectors continued to outperform.
Electronic components manufacturing posted a median of NT$46,914, information and communications and publishing reached NT$53,400, and finance and insurance topped the chart at NT$57,861, it said.
In the first 10 months of this year, Taiwan’s labor market posted steady wage gains, with most major sectors reporting higher regular pay. Wholesale and retail sectors’ regular wages rose 3.68 percent, manufacturing sector’s wages increased 3.55 percent and healthcare sector’s pay was up 3.47 percent.
Total compensation revealed more: Manufacturing sector’s wages jumped 5.91 percent, boosted by year-end and performance payouts, and wages in the electronics components sector surged 8.84 percent on booming AI and high-performance computing demand.
Wages in transportation and warehousing also climbed 4.8 percent, the DGBAS said.
Age and education remained key determinants of median wages, it said.
Workers younger than 30 earned NT$31,740 on average per month, far below the NT$43,143 peak for those aged 50 to 64.
Graduate degree holders continued to command a strong premium, earning a median NT$66,548 and showing the fastest growth over the past five years, the agency said.
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