10/03/2022
READ: Bello orders minimum wage review
As oil prices break records due to the ongoing conflict in Ukraine, Labor Secretary Silvestre Bello III on Wednesday said he has directed the Regional Tripartite Wages and Productivity Boards (RTWPBs) across the country to speed-up the review of the minimum wages to help workers and their families cope with the looming oil crisis.
Bello said the skyrocketing prices of oil products caused by the ongoing conflict between Russia and Ukraine may be a compelling ground for the wage boards to recommend adjustments in the minimum wages of workers.
“Setting and adjusting the wage level is one of the most challenging part of minimum wage fixing. Minimum wage cannot be very low as it will have very small effect in protecting workers and their families against poverty. If set too high, it will have an adverse employment effect. There should be a balance between two sets of considerations,” Bello said.
Full article: https://www.dole.gov.ph/news/bello-orders-minimum-wage-review/
