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

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Published 2023-07-28
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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All Comments (21)
  • @wvash2974
    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.
  • @sanghoonlee5171
    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.
  • @Julianaao2601
    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!
  • @v-ee4973
    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.
  • @Tony-di7mn
    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.
  • @o_m8717
    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. ❤
  • @jun4693
    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.
  • @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.
  • @user-iw8fe1gd2e
    從以前去澳洲打工度假就深深知道工作管道非常重要😂 主要還是自己的想法及規劃,然後從哪裡找到屬於自己的路,像影片中的主角,其實能力都不是問題,執行力也很棒,可是沒有一個合適他們能力的管道可以讓他們發揮所長,這是我從高中就發現台灣的現況,真的不是年輕人不努力的問題,而是努力在不對位的地方,就會心力交瘁,白幹了,人生不能重來,時間也過得很快,要找到伯樂與自己的舞台,年輕人真的不差。
  • @xxx-sp8fh
    This is happening all over the world. Most young people cant afford to buy house.
  • @siliwhiz
    "I believe that no job is better or worse than another."4:19 Bro's going places. A man who respects and honors an honest day work deserves every good thing in life.
  • @rosm9601
    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!
  • @hugocheng6243
    Thank you CNA for reporting, this is a quite serious situation in Taiwan or even around the world
  • @rkq7112
    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.
  • 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.
  • @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
  • @secretpeace-wp6xg
    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.
  • @takanna
    having lived in taiwan, i can attest to the fact that taiwanese are definitely one of the most diligent and resilient populations in asia...they are challenged economically but remain kind, genuine and warm to outsiders. truly wish them well.
  • @user-wv1nm3wj1q
    Such an outstanding vedio! You guys make more people realize the difficulty & harships that the younger generations are facing in Taiwan.