Taiwanese workers under the age of 30 last year, on average, earned an annual income of NT$545,931 (US$17,044), a new high, as the economy continued to improve, data released by the Directorate-General of Budget, Accounting and Statistics (DGBAS) showed.
That equated to monthly earnings of NT$45,494 per person, and marked an increase from NT$535,667 in 2022, the data showed.
In addition to an improved economy, average incomes rose as the unemployment rate declined and the minimum wage rose, the statistics agency said.
Photo: CNA
Overall, average income in Taiwan also hit a new record of NT$709,000 last year, up from NT$704,000 in 2022, the data showed.
Average income across all age groups rose last year, the agency said.
Average income includes wages, investment returns, rental income and government subsidies, it said.
One-off government cash payments of NT$6,000 each to Taiwanese and certain foreigners also helped boost average income last year, the DGBAS added.
Last year, the average deficit in savings for the lowest 20 percent of households reached a 15-year low of NT$16,626, which occurs when household spending exceeds disposable income, it said.
That was the lowest figure since 2008 when negative savings were at NT$5,901, and was the 17th consecutive year the group recorded negative savings, it said.
The DGBAS said that its savings data did not include households’ aggregate savings, stock or real-estate holdings, so negative savings do not necessarily mean a household is poor.
More than 60 percent of households in the lowest 20 percent income bracket are composed of people aged 65 or older, and many of them rely on savings to cover their financial needs, it said.
Therefore, it is not surprising that that income group tends to report negative savings, it added.
Average household savings totaled NT$275,402 last year, a new high and up NT$1,370 from a year earlier, the DGBAS said.
The average household’s disposable income last year rose 2.5 percent from 2022 to NT$1.14 million, while the median figure was NT$961,000, up 2.2 percent from a year earlier, data showed.
Average disposable income for individuals last year increased 4 percent from a year earlier to NT$407,000, while median disposable income rose 3.7 percent to NT$349,000, the data showed.
‘ABUSE OF POWER’: Lee Chun-yi allegedly used a Control Yuan vehicle to transport his dog to a pet grooming salon and take his wife to restaurants, media reports said Control Yuan Secretary-General Lee Chun-yi (李俊俋) resigned on Sunday night, admitting that he had misused a government vehicle, as reported by the media. Control Yuan Vice President Lee Hung-chun (李鴻鈞) yesterday apologized to the public over the issue. The watchdog body would follow up on similar accusations made by the Chinese Nationalist Party (KMT) and would investigate the alleged misuse of government vehicles by three other Control Yuan members: Su Li-chiung (蘇麗瓊), Lin Yu-jung (林郁容) and Wang Jung-chang (王榮璋), Lee Hung-chun said. Lee Chun-yi in a statement apologized for using a Control Yuan vehicle to transport his dog to a
Taiwan yesterday denied Chinese allegations that its military was behind a cyberattack on a technology company in Guangzhou, after city authorities issued warrants for 20 suspects. The Guangzhou Municipal Public Security Bureau earlier yesterday issued warrants for 20 people it identified as members of the Information, Communications and Electronic Force Command (ICEFCOM). The bureau alleged they were behind a May 20 cyberattack targeting the backend system of a self-service facility at the company. “ICEFCOM, under Taiwan’s ruling Democratic Progressive Party, directed the illegal attack,” the warrant says. The bureau placed a bounty of 10,000 yuan (US$1,392) on each of the 20 people named in
The High Court yesterday found a New Taipei City woman guilty of charges related to helping Beijing secure surrender agreements from military service members. Lee Huei-hsin (李慧馨) was sentenced to six years and eight months in prison for breaching the National Security Act (國家安全法), making illegal compacts with government employees and bribery, the court said. The verdict is final. Lee, the manager of a temple in the city’s Lujhou District (蘆洲), was accused of arranging for eight service members to make surrender pledges to the Chinese People’s Liberation Army in exchange for money, the court said. The pledges, which required them to provide identification
INDO-PACIFIC REGION: Royal Navy ships exercise the right of freedom of navigation, including in the Taiwan Strait and South China Sea, the UK’s Tony Radakin told a summit Freedom of navigation in the Indo-Pacific region is as important as it is in the English Channel, British Chief of the Defence Staff Admiral Tony Radakin said at a summit in Singapore on Saturday. The remark came as the British Royal Navy’s flagship aircraft carrier, the HMS Prince of Wales, is on an eight-month deployment to the Indo-Pacific region as head of an international carrier strike group. “Upholding the UN Convention on the Law of the Sea, and with it, the principles of the freedom of navigation, in this part of the world matters to us just as it matters in the
RSS