Stuck With Low Pay, How Taiwan’s Young Graduates Cope With High Costs | Asia’s Stuck Generation

Millennials in Taiwan are facing a new reality — high cost of living, stagnating wages and tougher competition for well-paying jobs. Despite getting university degrees, many are not better off financially than their parents’ generation. Some are just surviving, with no savings at the end of each month.

Unlike their parents, who entered the workforce in the 1980s during the golden era of wage growth in post-war Taiwan, youths today face single-digit economic growth and slow wage increases, amid overall inflation and the rising cost of housing.

CNA Insider follows the lives of a few ‘trapped’ youths to see what they’re doing to cope - including working up to 4 jobs, or going overseas to work in F&B jobs.

00:00 Intro
03:07 Super-commuting to save on rent
05:27 The low market pay for fresh graduates
09:40 Slow wage growth vs inflation in Taiwan over 10 years
11:39 Who are ‘Bei Piao’ or North Drifters?
12:10 What a NT$11,000 rental in Taipei looks like
13:23 One youth’s living expenses & zero savings
17:12 Why young Taiwanese are going overseas to work
20:39 Social housing as a solution
23:27 Hopes and dreams of Taiwanese youths

*24:43 This video was narrated by Grace Yeoh.

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[wvash]

What strikes me most in this video is that none of these people are actually complaining or giving up, but they are doing their utmost best despite the economy. Hope things get better for everyone in Taiwan.

[sanghoonlee]

As a Korean, it seems to me that Korea, Japan, Taiwan, and even China are all on similar trajectories as far as young people are concerned. High cost of city living, low wages, and slowing economy mean that mere hard work isn't enough anymore to lift young people to financial independence, as it was for their parents. The result is that in all these countries, young people delay marriage and having children because they can barely support themselves--which, in turn, lowers birth rate and causes further economic decline.

[Tony-dimn]

As a young Taiwanese I want to add some very different opinion here- this whole spirit of positivity and zero complaint is pointless. True, it makes us look like a welcoming bunch easy to get along with. But that doesn’t increase the odds of a pay bump, does it? Even worse, you’re signaling to your boss that you’re fine with your salary, giving them all the reason to keep it flat.
Cut the positivity and 小確幸 (little happiness). DO complain, DO ask for more, and if your boss shrugs it off, DO look for a new job that pays. Life is too short to stick with a cheap employer.

[Julianaao]

I think all young adults around the world can identify with these people. Life is so expensive everywhere right now that our salaries barely cover our basic necessities, it’s very hard to save and the dream of owning a house is further and further away. My utmost respect for these young adults shown in this video for trying so hard and not giving up on their dreams!

[o_m]

I went teary as I watched this video. This is the same thing most youths in Nigeria face. I am also Nigerian, facing likewise. What struck me at the end of the video is their hope and drive not to give up on their dreams, even though they are not sure it'll come to pass. This is me, trying again, at 27 with no job, and an uncertain future. I'm trying again, to make meaning out of my life. ❤

[bysirene]

My parents got married when they were 25, bought a house and a car when they were 27-30. I am 25 now, still living with my parents and cant find a job. Dealing with tons of rejection. Having a degree is useless, getting married and having kids seems ridiculous at my age. When i was a child, i didnt imagine my mid 20s would be like this at all. Cant even pay for food now. Tough time. Wishing everyone the best.

[v-ee]

This is happening all over the world. My dad lived during the "golden years" where having a degree was a "golden ticket". For years he didn't believe me, he would say "you have a degree now why don't you have a job?". Being on the upper end of the millennials (Gen Y.2) I at least have experience and skill above the younger millennials. It is only getting harder. It wasn't until recently that he finally accepted that just because you go to school doesn't mean you get a career job no matter how hard working and ambitious you are. The entire world really needs to start looking out for the working class and how we are going to survive otherwise things are really going to fall apart.

[iVuDang]

Very relatable. I thought I was the only millennial struggling in Canada, despite having a degree+license, I couldn’t afford a home, and no matter how hard I worked, how many extra jobs I took, my dreams drifted further away from me.

It seems like the problem and inflation, high costs of living, is experienced worldwide including in Taiwan. I wish the individuals in the video the best and anyone reading this.

Also amazing story telling and editing. Great video.

[lovetrustandpixiedust]

These youths are hustling hard. Mad respect to them for maintaining their optimism, resourcefulness and resilience despite the odds. May they achieve their dreams in the near future.

[rosm]

Adriel has a wonderful attitude. He's right that no job is better than another and he's trying his best to achieve his dreams. I hope he succeeds soon!

[iluvus]

Same here in Philippines 🇵🇭🇹🇼 I can relate to the graduates featured in this video, I realized that I'm not alone, life is so hard but as long as God and our family are here to support, there is a reason why we're alive and awake, fighting ❤

[hugocheng]

Thank you CNA for reporting, this is a quite serious situation in Taiwan or even around the world

[rkq]

To the lady who has worked in Singapore and wishes to come back again, Singapore welcomes you back. I really mean it. It may not be for everyone, and no place on earth is, but it has a place for those who have the right mindset and attitude and are willing to work and add value to Singapore, and to themselves personally, in their own ways.

[valeriewong]

What amazes me is their level of resilience. It is commendable due to its rarity. They aren't complaining. They are stating facts, not finger pointing. They are striving hard to break through and have a very positive perspective and approach towards their lives struggles and future. These are survivors who age gracefully. Their level of maturity is astounding. Their stories are beautiful. I wish them all the best in their endeavors. May they succeed in finding their happiness and living their dreams.

[trustenbaker]

" We are not like a drop of water in an ocean, but a drop of water in a desert "

powerful words...

[Tungku]

I am appalled by the challenges they are facing but I really find their spirit and resourcefulness encouraging!

[secretpeace-wpxg]

I'm only 3 minutes in and I feel this is a similar situation to what's happening in the United States. Many of us are college graduates and apply to companies that are "hiring" yet many of us aren't getting calls back or are told that they found someone else who was of better "qualification" even though most of them are over the top for what is suppose to be "entry level". Although we don't speak the same language or come from the same culture it seems both East and West share similar struggles when it comes economic hardship and finding stable employment.

[HighTechFan_Geek]

Many workers around the world dont realize that hard work is not the easiest way to get good job. Networking, bit of chance, being opportunist and taking risks pay much more

[gecn]

I love how they ended in a positive note. I hope they will all end up doing extremely well!

[Name.is]

The problem is that too many Asian countries push for this idea of go to school get a degree and you automatically get a good paying job; pushing and wiping out most innovation from the generation. They need to embrace a system more like in Germany that props up both blue collar and white collar groups along with creating businesses by helping reduce risk for people starting up businesses. Asia is too focus on education that he blinded itself to how reality works, to the point we have tons of educated people without jobs for them.