{"id":18559,"date":"2024-05-02T03:02:03","date_gmt":"2024-05-02T03:02:03","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/marcos-calls-for-review-of-wage-rates\/"},"modified":"2024-05-02T03:02:03","modified_gmt":"2024-05-02T03:02:03","slug":"marcos-calls-for-review-of-wage-rates","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/marcos-calls-for-review-of-wage-rates\/","title":{"rendered":"Marcos calls for review of wage rates"},"content":{"rendered":"
\n

By Kyle Aristophere T. Atienza, <\/b><\/span>Reporter<\/i><\/p>\n

PHILIPPINE President Ferdinand<\/span> R. Marcos, Jr. on Wednesday <\/span>or<\/span>dered regional wage boards to review minimum wage rates, as Filipino workers face stagnant <\/span>salary growth despite rising living costs.<\/p>\n

The regional boards should consider economic challenges such as inflation in conducting wage reviews, Mr. Marcos said in a speech during a Labor Day ceremony in Malaca\u00f1ang.<\/p>\n

\u201cAs president, I call on the Regional Tripartite Wages and Productivity Board to initiate a timely review of the minimum wage rates in their respective regions, with due consideration to the impact of inf<\/span>lation among others, within 60 days prior to the anniversary of their latest wage order,\u201d he said.<\/p>\n

Mr. Marcos called on the National Wages and Productivity Commission, which supervises the wage boards, to ensure \u201ca regular and predictable\u201d schedule of wage reviews in order to \u201creduce uncertainty and enhance fairness for all stakeholders.\u201d<\/span><\/p>\n

The Philippines adjusts daily minimum wages through its wage boards. The wage board in the National Capital Region (NCR) approved a P40 increase on June 29, 2023, bringing the minimum wage to P610 from P570 for workers in the non-agricultural sector.<\/span><\/p>\n

However, the slow and meager wage hikes amid rising cost of living have prompted lawmakers to pursue wage hikes through legislation.<\/p>\n

Senators have approved a bill on second reading increasing the daily minimum wage in the private sector by P100.<\/p>\n

At the House of Representatives, separate bills that seek to increase wages of private sector workers by P150 to P750 have been f<\/span>iled.<\/p>\n

Philippine inf<\/span>lation quickened for a second straight month in March \u2014 to 3.7% from 3.4% in February \u2014 as rice prices continued to surge. In March, inf<\/span>lation-adjusted wages were 16.7%-24.2% or P73.25-P114.20 lower than the current daily minimum wages across the regions in the country.<\/p>\n

The Philippine Chamber of Commerce and Industry (PCCI) described Mr. Marcos\u2019 call as \u201cprudent,\u201d saying it was a balanced approach to the demands of the labor sector for a wage increase and proposals in Congress for a legislated wage hike.<\/p>\n

\u201cI think it\u2019s a very prudent suggestion to give the tripartite bodies 60 days to discuss this issue,\u201d PCCI Chairman George T. Barcelon said in a phone call.<\/p>\n

Employers Confederation of the Philippines President Sergio R. Ortiz-Luis, Jr. said Mr. Marcos\u2019 latest call could mean that current legislated wage hike proposals in Congress do not have his support.<\/p>\n

\u201cI think it\u2019s basically driving the message that the ones who should touch the salary should be the wage board,\u201d he said in a phone call.<\/p>\n

\u201cIt\u2019s an indirect way of saying that the Congress should not meddle,\u201d he said in mixed English and Filipino.<\/p>\n

Filomeno S. Sta. Ana III, coordinator at Action for Economic Reforms, said regional wage boards remain the appropriate body to decide on wage hike proposals since they are supposedly \u201cmore responsive to local conditions.\u201d<\/p>\n

\u201cIt moves away from a rigid one size-f<\/span>its-all approach,\u201d he said in a Facebook Messenger chat.<\/p>\n

\u201cIn terms of increasing the minimum wage, the yardstick is to ensure that nominal wages keep up with high inflation and that higher worker productivity is rewarded,\u201d Mr. Sta. Ana said.<\/p>\n

\u201cAs to the tradeoff, whether higher minimum wage triggers worse inflation or unemployment is an empirical question,\u201d he added. \u201cAt the same time, there are conditions where such fear or threat of escalating inflation or unemployment does not emerge.\u201d<\/p>\n

IBON Foundation said that a P690 across-the-board wage hike is needed to raise the average P440 minimum wage nationwide to the current P1,207 average family living wage nationwide.<\/p>\n

\u201cThe wage hike is equivalent to 49% of prof<\/span>its across all establishment sizes and would divide profits more or less equally between employers and workers,\u201d IBON Foundation Executive Director Jose Enrique \u201cSonny\u201d A. Africa said in a Facebook Messenger chat.<\/p>\n

\u201cBroken down, the wage hike is equivalent to 54% of prof<\/span>its in micro, 53% in small, and 46% in medium and large f<\/span>irms,\u201d he said.<\/p>\n

Raising wages is easiest for medium and large corporations, while the government can help smaller f<\/span>irms with wage subsidies or other support, he noted.<\/p>\n

Many small enterprises, especially those under the Barangay Micro Business Enterprises Law, are exempt from any proposed wage increase, Federation of Free Workers President Jose Sonny G. Matula said, as his group backs proposals for a legislated wage hike.<\/p>\n

For businesses genuinely unable to meet the new wage standards, provisions under the Wage Rationalization Act allow for exemptions, he added in a Viber message.<\/p>\n

Also on Wednesday, Mr. Marcos asked Congress to pass measures that would support his administration\u2019s job creation agenda such as the proposed Enterprise-based Education and Training Program Act, which seeks to rationalize the training programs for middle-level workers, and the Revised Apprenticeship Program Act.<\/p>\n

He also mentioned a bill that seeks to further lower the income tax imposed on domestic and foreign f<\/span>irms.<\/p>\n

Meanwhile, Mr. Marcos unveiled the master plan for a proposed Workers\u2019 Rehabilitation Center Complex that will be built in Rizal province.<\/p>\n

The facility seeks to provide comprehensive management and treatment for injured workers, with a focus on biopsychosocial approach to recovery to enable their reintegration into the workforce.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

PHILIPPINE President Ferdinand R. Marcos, Jr. on Wednesday ordered regional wage boards to review minimum wage rates, as Filipino workers face stagnant salary growth despite rising living costs.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[14644,166,168,594,8579,2586,3546],"class_list":["post-18559","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bworldonline","tag-calls","tag-for","tag-marcos","tag-rates","tag-review","tag-wage"],"yoast_head":"\nMarcos calls for review of wage rates - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/marcos-calls-for-review-of-wage-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marcos calls for review of wage rates - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"PHILIPPINE President Ferdinand R. 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