ASML is hiring 600 engineers. The competition is heating up. Hopefully these foreign companies will pay better and domestic competitors will have to pay more to compete.
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Taiwanās salaries are still stubbornly āstuckā even with a strong hiring trend.
I know thereās fluctuations in terms of bonuses and what month they fall etc but Iām just talking about the base salary. When will it go upā¦It has to eventually surely economic growth will be very strong this year if America completely opens up and most other countries partly.
Also the number of new entrants to the workflow is plummeting and I know there are many places.with vacancies out there (mostly semi skilled labour ).
It does help that NTD has been strong, and Taiwan is doing well economically, but still thatās an anemic base pay growth. The bosses must be capturing the extra profits. They are very obviously trying to stop any raise in the base monthly rate.
Separately, the DGBAS said the average monthly regular wage in the industrial and service sectors in January rose 2.07 percent from a year earlier to NT$43,125.
Taiwanās job market is not normal in my opinion as it does not obviously respond to supply and demand of workers .
Other issues are probably a lack of people able to plug into the global economy directly , skipping the local laobans and local monopolies. Iām talking about programmers, finance specialists, marketing specialists, designers ,analysts , lawyers with good English skills .
Lack of foreign companies investing here in those industries is probably holding the wages back a lot
Quoted from earlier article. Poor performance in the service sector is the major problem I would guess.
But low pay rates for almost all job entrants is also keeping pay down.
Pay rates like this give our family almost no choice but to leave for easier shores at some point. I donāt want my kids on such low pay for putting the same amount of work in.
The economyās growth is uneven. The industrial sector grew at an annual pace of 6.11 percent primarily due to robust demand for semiconductors used in 5G-related devices such as smartphones and electronics used by people staying at home, while agriculture rose 1.33 percent and the service sector grew 1.18 percent. That indicates that the economy is heavily dependent on the industrial sector for growth, accounting for 2.18 percentage points of GDP.
This year TSMC is supposed to address that problem as well. Reducing bonuses while adding to base salaries. Iām assuming others will follow.
Ireland is doing great. I doubt Taiwan will outperform Ireland. Your kids have dual citizenship anyways right? They can move back here if they want to.
Yes indeed but this last year Ireland is a disaster zone. Yes itās a good option after covid crisis tapers off.
I feel frustrated that Taiwanās economy has grown a lot but the money doesnāt trickle down as much. I mean it seems to trickle down to some given the amount of new cars but looking at the statsā¦Not great.
Itās affected me in my life here over the years and I wouldnāt like to see my kids get āunderpaidā in the future either.
That doesnāt sound that bad. 2% wage growth on the back of 3% economic growth?
Still makes the workers poorer.
Versus inflation no gains I guessā¦In this year itās probably a good result globally but given the strong hiring trend locally ā¦Itās disappointing.
That is bad considering other economies have had higher wage growth recently. What it comes down to is whether the South Korean approach of mandated almost double digit wage increase will damage long term growth or not.
Personally, Iām not sure. My gut feeling would be something between Taiwan and South Korea but this is a really hard question even for people who study it for years.
Edit: I misremembered, South Korea actually hiked min wage by 16.4% in 2018 and 10.8% in 2019.
Doesnāt seem so. Besides benefits people concretely in the here and now and that should be more heavily weighted that any potential future.
There was deflation last year.
It probably still is disappointing, but we have to wait and see. There are signs that it isnāt. Per the Commonwealth article someone posted earlier, the reason for high economic growth + no wage growth was no value added and offshoring to China.
Thatās reversing. Investment is climbing because of reshoring, which is because of the trade war.
Low foreign investment is due partly to lack of free trade agreements, and the prospects of that changing is also on the horizon.
All the Tigers held wages down during their high growth periods. The IMF forced Korea to pop the lid on wages to qualify for the bailout. I guess it worked.
Higher Wages = lower profits = less money re-invested.
But investment in Taiwan is super low anyway, so low wages arenāt helping.
In Taiwan ? Nah.
Theyāre totally was. CPI dropped.
Rents and food, no. Hotels and b and bs nopeć
Food is not in the CPI, at least not in the USA.
Then itās a joke.
Nah.
Food is included in headline cpi numbers.
Food and oil are excluded in core CPI due to their volatility.