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Manila Bulletin devider Business devider Balisacan: P35 wage hike to affect over 40,000 workers

Balisacan: P35 wage hike to affect over 40,000 workers

Published Jul 9, 2024 06:19 am

National Economics and Development Authority Arsenio M. Balisacan said that the P35 wage hike in Metro Manila will not greatly impact the economic growth as well as employment numbers.

During a press briefing in Malacañang, Balisacan said that around 40,000 to 140,000 workers may be affected by the wage hike, but this is smaller than if the rate adjustments were higher.

“For the wage orders that have been issued as of March 2024, our estimates so far suggest the national output GDP will be impacted negatively but it's a very small impact, it's just about 1/10 of one percent,” he said.

“It could increase unemployment rate and could impact some 40,000 to 140,000, depending on the region, not as big if rate adjustments were higher,” he added.

The NEDA chief also cited the lower year-on-year unemployment rate in May which can offset to the potential impact of the wage adjustments.

"That's why our focus as economic managers is not so much on the unemployment per se but the quality of jobs," he further said.

Meanwhile, Labor Secretary Bienvenido Laguesma clarified that the wage hike adjustment is more directed to minimum wage earners or those on the entry-level to protect the workers from undue low pay.

"Over and above the minimum wage that can be subjected to further discussion and negotiation between the employer and the worker for companies that do not have organized unions," Laguesma added.

The Regional Tripartite Wages and Productivity Board - National Capital Region earlier signed the Wage Order No. NCR-25 which will add a P35 to the workers’ daily salary.

Non-agriculture workers' daily minimum wage would be set at P645 from the current P610.

On the other hand, the daily minimum wage for workers in agriculture (plantation and non-plantation), service/retail establishments employing 15 workers or less, and manufacturing establishments regularly employing less than 10 workers, will be raised to P608 from the current P573.

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National Economic and Development Authority (NEDA) Wage hike Unemployment rate
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