NT$23,100 Minimum Wage Announced by Taiwan's Ministry of Labor

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The Ministry of Labor (MOL) announced Thursday that the monthly minimum wage in Taiwan will increase by 5% from NT$22,000 (US$714) to NT$23,100 starting from Jan. 1, 2019. The hourly minimum wage will also increase by 7.14% from NT$140 to NT$150, the ministry said.

The decision was reached on Thursday, after a meeting with the review committee consisting of representatives from different sectors of society, representatives of labor unions and business groups, the ministry said, adding that it will be submitted to the Executive Yuan for approval.

As expected, both labor and business representatives were not satisfied with the wage increase, with the former asking for a 7% minimum monthly wage increase and the latter warning that such a move would increase unemployment.

Most hikes over the past two decades amounted to between 1 and 5 percent, with an exception in 2007 when the minimum wage surged by 9.09 percent, according to the Central News Agency.