The minimum wage increase for next year will be decided at the first minimum wage consultation meeting on September 4. Before the decision, an 11-member research group composed of experts and scholars will report adjustment recommendations.
The research team’s report quotes data provided by the Budget, Accounting and Statistics Directorate General on May 31. The consumer price index (CPI), which is the reference indicator, is forecast at 2.07% this year, with the economic growth rate estimated at 3.94%. Nine other indicators for participation and procurement are also detailed, with nearly all showing positive growth.
Labor representative and newly appointed director of the Taiwan Confederation of Trade Unions Tai Kuo-jung (戴國榮) and employer representative and Taiwan Federation of Industry representative Yu Yu-chih (余玉枝) shared their opinions on the report. Tai pointed out that, based on the latest CPI and economic growth rate, the increase should be at least 4%. Yu said that an acceptable increase would be about 2-3%, as she believes any increase exceeding this percentage would only further drive up prices and exacerbate inflation.
While the report doesn’t mention specific recommendations for adjustments, the data indicates that in order to mitigate the impact of rising prices on low-income families, it will be necessary to increase the minimum wage.