Reported 8 months ago
During President Tsai Ing-wen's 8-year term, the minimum wage increased yearly from NT$20,008 to NT$27,470. As the new president Lai Ching-te's one-month anniversary in office approaches, a consultation on the minimum wage is set to take place. Expert from 1111 Job Bank suggests that while government raising minimum wage is to benefit grassroots workers, it negatively impacts the lower middle class who earn slightly above minimum wage. A high percentage of 90.4% of employees are dissatisfied with their current salaries, with three main concerns including stagnant wages, high housing prices/rent, and rising prices/utility costs. Despite the concern about possible negative impacts such as inflation and increased labor costs, 82.7% of employees agree with raising the minimum wage to protect vulnerable workers. The economy is showing positive signs according to the Directorate General of Budget, Accounting & Statistics, but the actual situation may not be as rosy as it seems, especially for workers outside of the technology and finance industries who have not benefited from the economic growth and are facing the squeeze from inflation caused by the rising minimum wage.
Source: YAHOO