The Philippines is considering raising its minimum wage, with proposals ranging from ₱150 to ₱350 per day for private sector workers. This proposed increase aims to address the decline in real wages due to rising cost of living and inflation.
Currently, the national minimum wage stands at ₱610 per day, but varies by region.
Labor groups support the increase, arguing it's essential to improve living standards and offset the rising cost of living. However, some businesses, particularly small and medium enterprises, express concerns about its potential impact on operating costs, fearing job losses or price hikes.
The House of Representatives is currently discussing the proposals with various stakeholders to find a solution that balances both the needs of workers and businesses. The final decision on the minimum wage increase amount remains pending.
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