The number of people hired by the industrial and service sectors in August edged up 0.03 percent, or 3,000 people, to 8,192,000, with overtime hours growing for two consecutive months, signaling a recovery in the manufacturing industry, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.
“We saw a streak of light of recovery based on the increase in overtime hours in July and August,” Census Department Deputy Director Chen Hui-hsin (陳惠欣) told a media briefing.
The number of overtime hours had slipped since the second half of last year into a contraction zone amid a global economic slowdown, but squeezed an increase of 0.2 hours in July and 1 hour in August, Chen said.
Photo: CNA
The uptrend suggested that things are improving, though it might also have to do with low bases last year, the official said.
Taiwan is home to the world’s largest contract suppliers of electronics used in smartphones, personal computers and vehicles, as well as servers and graphics processing units used in artificial intelligence (AI) devices and services.
Overtime hours reached more than 10 hours during the COVID-19 pandemic years, thanks to a surge in demand for remote schooling and work arrangements, Chen said, adding that the COVID-19 bonus died out after countries worldwide ditched social distancing restrictions.
The accession rate — the number of new employees added to payrolls — shed 0.04 percentage points from a year earlier to 2.76 percent, as firms practiced caution in hiring activity, the DGBAS said.
The exit rate rose 0.08 percentage points to 2.73 percent, as some firms shed headcounts to save costs, it said.
At the same time, the average monthly wage grew 2.67 percent from a year earlier to NT$45,650 (US$1,417), while total wages, including overtime compensation, performance-based commissions and bonuses advanced 0.32 percent to NT$56,295, the statistics agency said.
Electricity and gas suppliers, publishing and video content producers, as well as financial and insurance companies offered the highest average monthly pay of more than NT$65,000 in August, the DGBAS report showed.
At the other end, hairdressers and beauty salons had the lowest monthly wages of NT$30,537, followed by restaurants at NT$34,689 and private bus companies at NT$35,190, it said.
In the first eight months of the year, average monthly wages expanded 2.5 percent year-on-year to NT$45,415, while total wages climbed 1.42 percent to NT$60,931, it said.
Cumulative regular pay managed a 0.21 percent increase in the first eight months, but overall average wages shrank 0.85 percent annually after adjustments for inflation, the DGBAS said.
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