Taiwan's minimum monthly wage has been increased to 3.18%, the current monthly minimum wage is NT$28,590 and will go up to NT$29,500 and NT$196 per hour.
The raise was decided by the the Basic Wage Deliberation Committee of the Ministry of Labor (MOL) of Taiwan. The annual increase is always a good news to everyone specially those minimum wage earners on both local Taiwanese workers and migrant workers.
This is the second time since the Minimum Wage Law was put into effect. President Lai Ching-te's first report card after taking office.
In accordance with Taiwan's Labor Standards Act, minimum wage earners foreign workers, migrant workers in Taiwan will also receive the pay raise, with more than 2.5million laborers will benefit from the raise.
The MOL highlighted that over the past decade, the monthly minimum wage has risen from NT$20,008 in 2016 to NT$29,500, up 47.4 percent, while the hourly wage has grown 63.3 percent from NT$120 to NT$196.
The adjustment is usually calculated using the annual growth rate of the Consumer Price Index and half of the GDP growth rate.
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