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MANILA, Philippines – Over 124,000 overseas Filipino workers are expected to benefit from Taiwan’s approval of a 4.05% increase in its monthly minimum wage, the Manila Economic and Cultural Office (MECO) in Taiwan announced on Thursday, September 14.
From NT$26,400 (P46,910.16), the monthly minimum wage for workers in the industrial sector will be increased to NT$27,470 (P48,811.44), while the hourly rate will be raised from NT$176 (P312.73) to NT$183 (P325.17).
The Taiwan labor ministry announced that the Cabinet approved the adjustments on Wednesday, September 13, and would take effect on January 1, 2024.
MECO chairman Silvestre Bello III said that the adjustment will cover the 124,265 Filipino factory workers in Taiwan, but not live-in caregivers and household service workers who are not covered by the Taiwan Labor Standards Act.
Bello said that the Taiwan labor ministry proposed for an increase to help workers in the industrial sector cope with surging inflation and rising costs of basic necessities.
According to a Taiwan News report, labor groups had called for higher wages of around NT$27,600 to NT$28,000.
Filipinos who will be hired in Taiwan until December 31 will also be entitled to the new wage rates, Bello said.
Quoting the labor ministry announcement, Bello said: “The 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.”
The increase marks the eighth wage hike since Taiwan President Tsai Ing-wen took office in 2016.
MECO data shows that there are around 154,000 Filipinos in Taiwan. – Rappler.com
NT$1 = P1.7769