《TAIPEI TIMES》Wage growth of 2.39％ eaten up by inflation: DGBAS

By Crystal Hsu / Staff reporter

The average monthly wage of Taiwanese employees in September was up 2.39 percent from a year earlier at NT$44,417, even though the inflation-adjusted average remuneration they received in the first nine months of this year was down 0.07 percent year-on year, as consumer prices grew faster than wages, the Directorate-General of Budget, Accounting and Statistics （DGBAS） said yesterday.

請繼續往下閱讀...

The September wage increase was the steepest in 22 years, but it was not strong enough to buffer a 3.07 percent consumer price hike, DGBAS Census Department Deputy Director Chen Hui-hsin （陳惠欣） said.

Chen pinned the blame on Russia’s invasion of Ukraine, which disrupted global energy supply and steeply pushed up energy prices.

A similar dynamic was at play during the European debt crisis in 2012 and the global financial crisis in 2008, when the real wage in Taiwan shrank 0.47 percent and 3.05 percent respectively, she said.

The number of people working in the service and manufacturing sectors in September was down by 4,000 from a year earlier, she said, adding that eased COVID-19 restrictions helped the tourism sector recover, but manufacturers took a hit from rising global economic uncertainty.

The headcount decline also had to do with unfavorable seasonality, as companies laid off temporary workers after the end of the summer vacation period, Chen said, adding that 2,000 to 8,000 fewer people are on average employed in the sectors after that period, citing employment data from the past few years.

However, temporary hiring is expected to pick up this quarter, as it is the high season for corporate banquets and family reunion gatherings, she said.

However, Chen said that the manufacturing industry employed 5,000 fewer people, higher than the average over the past few years of 3,000 to 4,000.

This might be a sign of economic slowdown, she said, urging close attention.

“It is too early to tell if the headcount adjustment is seasonal or represents the beginning of an economic downturn,” Chen said, adding that the drop is “not drastic.”

However, fewer overtime hours being clocked for the third straight month might also be a sign of a downturn, she said.

Tech and non-tech firms have cut capacity to cope with order cancelations and languid market demand, she said.

Meanwhile, service providers expect the business climate to improve, as restaurants, hotels, amusement parks and travel agencies recover steadily from a slump at the height of a COVID-19 wave in April and May, Chen said.

The border reopening for organized tour groups on Oct. 13 also bolstered the recovery, she said.

Wages at restaurants and other service providers in September increased 6.02 percent and 7.37 percent respectively, DGBAS data showed.

新聞來源：TAIPEI TIMES