Minimum wage hike in Taiwan to benefit over 124,000 OFWs —MECO
The recent approval of an increase in minimum wage by the Taiwanese government would also benefit over a hundred thousand overseas Filipino workers, the Manila Economic and Cultural Office said Thursday.
In a statement, MECO said the government of Taiwan approved a 4.05% hike in the monthly minimum wage of all industrial sector workers, effective January 1, 2024.
“On September 13, 2023, the Taiwan ministry of labor announced that the Cabinet has approved its proposed increase in the monthly minimum wage effective next year,” said MECO chairman Silvestre Bello III.
Bello said the wage adjustment will cover the 124,265 Filipino factory workers in Taiwan.
However, the increase will not apply to live-in migrant caregivers and household service workers who are not covered by the Taiwan Labor Standards Act, according to Bello.
The approved wage hike brings the monthly minimum pay to New Taiwan (NT) $27,470 from the current NT$26,400, while the basic hourly rate will be raised from NT$176 to NT$183.
Bello said Filipinos who will be hired in Taiwan until December 31 this year will also be entitled to the new wage rates.
The wage hike marks the eighth consecutive year that the minimum wage has been raised since 2016.
Bello said the Taiwan Labor Ministry proposed the wage increase to help workers in the industrial sector to cope with the surging inflation and higher costs of basic necessities.
The Ministry’s Wage Committee, represented by government officials and representatives of workers and employers, believes that company owners/employers should share a fairer proportion of economic growth to their employees/workers who in one way or another contributed to the growth and development of industry sector in Taiwan, said the MECO chairman.
“The Ministry hopes that increasing working-class income will boost productivity and that the increased minimum wages will provide for the basic living necessities of marginal workers as well as spur domestic consumption and economic growth, thereby creating a win-win situation for both labor and management,” said Bello.
There are about 1.79 million salaried employees and 600,000 hourly workers in Taiwan, including migrants.
There are about 154,000 Filipinos staying in Taiwan.—AOL, GMA Integrated News
Source: Minimum wage hike in Taiwan to benefit over 124,000 OFWs —MECO | GMA News Online (gmanetwork.com)