Taiwan’s Central Bank advises govt. to increase minimum wage

The report suggests raising pay will stimulate economic growth and improve the economic livelihood of some 2 million people in the workforce

Taiwan News
Date: 2018/06/25
By: Duncan DeAeth, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – A report from Taiwan’s Central Bank suggests that in

Central Bank Chairman Yang Chin-long (By Central News Agency)

comparison to international averages, and Taiwan’s current financial situation, that there is still room for upward adjustment of the minimum salary in the country.

The report from the Central Bank suggests that raising the minimum wages across the country will not have a negative effect on employment numbers. On the contrary, the report suggests raising wages will improve distribution of capital, and stimulate economic growth.

The report suggests that even a minor increase in average wages would greatly benefit young people, women, and employees working in the manufacturing sector.

UDN quoted Central Bank Chair Yang Chin-long (楊金龍) as saying that the Central Bank is very concerned with the labor market in the country, because it directly affects consumer prices and the nation’s economic development.    [FULL  STORY]

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