Taiwan flags can be seen at a square ahead of the national day celebration in Taoyuan, Taiwan, October 8, 2021. REUTERS/Ann Wang/Files
MANILA, Philippines 鈥斅� The Taiwanese government has announced a 4.05 percent increase in the monthly minimum wage for all workers in the industrial sector, including overseas Filipinos workers, the Manila Economic and Cultural Office (MECO) said Thursday.
According to MECO in a statement, the monthly minimum wage increase will be effective to all industrial sector workers beginning January 1, 2024.
鈥淥n 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,鈥� announced MECO chair Silvestre Bello III.
Bello said the monthly minimum pay will be increased to NT$27,470 (US$872) from NT$26,400 (US$ 838), while the basic hourly rate is raised from NT$176 to NT$183.
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The increase was approved in response to help workers in the industrial sector to cope with the surging inflation and higher costs of basic necessities.
鈥淭he 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,鈥� the Taiwan labor ministry said in its announcement.
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Meco said that there are around 154,000 Filipinos staying in Taiwan.
Filipinos who will be hired in Taiwan until December 31 this year will also be entitled to the new wage rates, said Bello.