Anger burns after Aquino rules out wage hike for Filipinos
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President Benigno Aquino III yesterday ruled out an across-the board wage increase equivalent to neary US$3 (Bt92) demanded by workers, saying it would result in economic losses.
In his Labour Day speech, Aquino said the demanded increase – costing 1.43 trillion Philippines pesos (Bt1.04 trillion) a year – would be taken out of an economy that was worth PP8 trillion to PP9 trillion.
“How can the businessmen recover this?
“Has anybody explained that there are 527,000 Filipinos who could lose jobs this year and next year if this is implemented?” Aquino said.
He said that compared with the other neighboring countries, the minimum wage in the Philippines, which is about US$9-10 (Bt276-307) a day, is already much higher than the $2-5 per day in Cambodia, Vietnam and Indonesia.
Aquino said that he, as well as Vice President Jejomar Binay and Cabinet members have decided to skip the advance payment of their own salary increases.
The increase is advanced June 1, instead of July 1.
