Nearly 80 percent of businesses froze salaries last year: survey
October 31, 2012, 12:02 am TWN
TAIPEI--About 80 percent of employers in the manufacturing and service sectors froze salaries for employees in 2011, while the number of layoffs also increased that year due to slow economic growth, according to the results of an official survey published yesterday.
Only about 21.8 percent of businesses in the manufacturing and service sectors provided pay increases in 2011, an increase of 4 percentage points from the same period of 2010, according to statistics compiled by the Directorate-General of Budget, Accounting and Statistics.
In addition, about 4.1 percent of employees in these sectors were laid off in 2011, up from 3.5 percent in the previous year, the statistics show.
Officials said the layoffs occurred mainly in the fourth quarter due to slower economic growth compared with the year's previous quarters.
On employee salaries over the past three years, the average annual salary stood at NT$633,376 (US$21,666) in 2011, up from NT$588,500 in 2009, according to the survey results.