Taiwan’s wages jumped in February, driven largely by seasonal bonus payouts, while underlying salary growth remained modest and total employment slipped due to the Lunar New Year holiday, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.
The average regular monthly wages of all employees — including full-time and part-time Taiwanese and foreign workers — reached NT$48,494 (US$1,532) in February, up 2.51 percent from a year earlier.
However, total earnings — including bonuses and overtime pay — surged 71.8 percent to NT$99,734, bolstered by the distribution of annual bonuses, the statistics agency said.
Photo: Ritchie B. Tongo, EPA
The timing of the Lunar New Year holiday distorted comparisons, as the holiday fell entirely in February this year, but was spread across January and February last year, lowering the comparison base, the agency said.
Median regular wages, often seen as a better indicator of typical earnings, stood at NT$39,023 in February, representing a 2.68 percent increase from a year earlier, it said.
Wage levels continued to vary significantly across industries, reflecting differences in education, job type and experience, the agency said.
Accommodation and food services recorded the lowest average regular monthly wage in January-February at NT$34,487, followed by other services, such as beauty, hairdressing and equipment repair at NT$37,094, DGBAS data showed.
Manufacturing, which employs a large share of the workforce, averaged NT$46,636 — below the overall average, but electronic components manufacturing came in above average at NT$57,828.
At the upper end of the spectrum, financial and insurance services recorded the highest average wage at NT$73,744, followed by information and communications services at NT$70,444, and professional, scientific and technical services at NT$59,222.
For the January-February period, the average regular monthly wage of all employees stood at NT$48,674, up 2.74 percent from a year earlier, while total earnings rose 2.79 percent, DGBAS data showed.
After adjusting for inflation, real average regular wages increased 1.49 percent, and real total compensation rose 1.54 percent, both outpacing inflation, it said.
Meanwhile, total employment edged down 0.29 percent month-on-month to 8.5 million workers in February, as many companies closed during the Lunar New Year holiday period, the DGBAS said.
The manufacturing sector recorded the largest monthly job losses, shedding 8,000 positions, followed by wholesale and retail trade, and the accommodation and food services sector, both down by about 4,000 jobs, it said.
Despite the monthly decline, employment trends remained positive on an annual basis, increasing by 73,000 workers, or 0.85 percent, supported by continued strength in technology-related industries, particularly those benefiting from demand for artificial intelligence applications, the agency said.
Labor turnover indicators showed mixed signals. The entry rate fell to 2.05 percent in February, while the exit rate rose to 2.33 percent, suggesting slightly weaker hiring momentum, it said.
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