Taiwanese Businesses Continue To Shun Demand-Led Economic Recovery By Refusing To Unfreeze Wage Rates
The Council for Economic Planning and Development (CEPD) said on Friday that the small share of the nation’s GDP growth receieved by employees was the main reason behind their stagnant wages in recent years.
The council said that employee salaries accounted for a record 51.7 percent of GDP in 1990, but the percentage — which is dubbed the “labor share” by the International Labour Organization (ILO) — had declined to 44.6 percent in 2010, lower than the level of both developed and developing countries, as well as emerging economies.
