TRADE Secretary Alfredo Pascual affirmed the government's support to businesses following the approval of a minimum wage increase for the National Capital Region (NCR).
"We acknowledge that businesses may encounter challenges with this adjustment. Therefore, it is crucial to strike a balance between the needs of our workers and the sustainability of our enterprises," Pascual said Monday night.
Hence, the government will provide continuous assistance and implement programs that promote business resilience and competitiveness.
"The DTI will collaborate closely with other government agencies and stakeholders to monitor the impact of this wage increase and to facilitate a smooth adaptation process for all sectors involved," the trade chief said.
Pascual said that the latest minimum wage increase for the NCR marked a significant step toward enhancing the welfare of Filipino workers as it aligned with the latest regional poverty threshold.
From January to June 2023, the number of poor Filipinos dropped to 25.14 million from 26.14 million in the same period of 2022, latest data from the Philippine Statistics Authority (PSA) showed. In terms of percentage, it fell to 22.4 percent from 23.7 percent a year earlier.
This means that about 900,000 Filipinos climbed out of the poverty line, which was set at P13,797 for a family of five. The poverty line in 2021 was P12,082.
"By aligning with the latest regional poverty threshold, the wage increase signifies our dedication to equitable growth and economic inclusivity," said Pascual, adding that it "is a timely response to the escalating costs of living."
Laborers work on a railroad track in Sampaloc, Manila, on July 2, 2024. The Regional Tripartite Wages and Productivity Board (RTWPB) approved on Monday the P35 increase for daily minimum wage earners in the National Capital Region (NCR), or from P610 to P645 for the non-agriculture sector. The order will be effective 15 days after its publication in national dailies. PHOTO BY MIKE ALQUINTO Laborers work on a railroad track in Sampaloc, Manila, on July 2, 2024. The Regional Tripartite Wages and Productivity Board (RTWPB) approved on Monday the P35 increase for daily minimum wage earners in the National Capital Region (NCR), or from P610 to P645 for the non-agriculture sector. The order will be effective 15 days after its publication in national dailies. PHOTO BY MIKE ALQUINTO Laborers work on a railroad track in Sampaloc, Manila, on July 2, 2024. The Regional Tripartite Wages and Productivity Board (RTWPB) approved on Monday the P35 increase for daily minimum wage earners in the National Capital Region (NCR), or from P610 to P645 for the non-agriculture sector. The order will be effective 15 days after its publication in national dailies. PHOTO BY MIKE ALQUINTO Laborers work on a railroad track in Sampaloc, Manila, on July 2, 2024. The Regional Tripartite Wages and Productivity Board (RTWPB) approved on Monday the P35 increase for daily minimum wage earners in the National Capital Region (NCR), or from P610 to P645 for the non-agriculture sector. The order will be effective 15 days after its publication in national dailies. PHOTO BY MIKE ALQUINTO Laborers work on a railroad track in Sampaloc, Manila, on July 2, 2024. The Regional Tripartite Wages and Productivity Board (RTWPB) approved on Monday the P35 increase for daily minimum wage earners in the National Capital Region (NCR), or from P610 to P645 for the non-agriculture sector. The order will be effective 15 days after its publication in national dailies. PHOTO BY MIKE ALQUINTO Laborers work on a railroad track in Sampaloc, Manila, on July 2, 2024. The Regional Tripartite Wages and Productivity Board (RTWPB) approved on Monday the P35 increase for daily minimum wage earners in the National Capital Region (NCR), or from P610 to P645 for the non-agriculture sector. The order will be effective 15 days after its publication in national dailies. PHOTO BY MIKE ALQUINTO Laborers work on a railroad track in Sampaloc, Manila, on July 2, 2024. The Regional Tripartite Wages and Productivity Board (RTWPB) approved on Monday the P35 increase for daily minimum wage earners in the National Capital Region (NCR), or from P610 to P645 for the non-agriculture sector. The order will be effective 15 days after its publication in national dailies. PHOTO BY MIKE ALQUINTO
He also emphasized that the department was continuously working to achieve a balanced environment for both workers and businesses to prosper, which, in turn, would drive sustained economic growth and improve the overall socioeconomic landscape of the Philippines.
On Tuesday, the National Capital Region-Tripartite Wages and Productivity Board issued Wage Order 25 granting a P35 hike to 1.1 million minimum wage earners in Metro Manila, increasing their daily take-home pay to P645 from P610.
The order also brought wages for agriculture sector workers and those in retail establishments employing 15 or fewer and manufacturing establishments regularly employing fewer than 10 workers to P608 from P573.
The increase takes effect July 17, a day after the anniversary of the preceding wage order.
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