pointed out that , according to U.S. data, higher employment rates are generally associated with higher wage growth. In other words, higher employment rates generally also produce higher wage growth. In theory. In years of high unemployment, market forces should adjust wages upward to bring more people back into the labor force to reduce unemployment. But this apparently did not happen during the presidencies of Store employment rose 13 percent. 1 2 » Read the full text Don’t want to paginate? Try our new service you may also like Some people think that “raising the base wage will increase the unemployment rate”, the data can prove this statement wrong Taiwan business groups have begun to create “chaotic discourse” to block basic wage increases, don’t let them succeed Business groups often say that.
Chen Shui-bian and Ma
Ying-jeou. In addition, Taiwanese companies are facing labor shortages these days , and based on supply and demand thinking, higher demand should lead to higher wages. However, business groups are holding back the base wage hike to Norway Phone Number higher levels. The so-called forces of supply and demand do not work at all, and if the unemployment rate is to be reduced, it is necessary for the government to intervene to raise the basic wage. Exports are booming, Taiwan’s economic growth in the fourth quarter of 2020 is good Photo Credit:
WebMD If businesses really care about
rising unemployment, they should advocate for higher base wages — not prevent them. The same goes for policy makers. After the 1997 economic crisis, Taiwan’s basic wages did not increase for most of the years of Chen Shui-bian’s presidency, and continued to stagnate during the Ma Ying-jeou presidency. What would it look like today if base salaries followed a steady pattern of increases, rather than being artificially low during their presidency? If you compare the average increase in the minimum. Monthly salary under President Tsai Ing-wen. The base salary has risen by 4.31% annually since 1997. And will reach NT$43,637 next year. However. The base salary will only increase to NT$25,250 next year. Which is NT$18,387 lower than the previously attainable NT$43,637. a Produced by the author. Adjusting the base wage is not only irrelevant to unemployment. It can even benefit the economy