President Ferdinand Marcos Jr. has indicated that an increase in the minimum wage is possible.
In his meeting with the Director General of the International Labor Organization (ILO), Gilbert F. Houngbo, on Tuesday, Marcos said that the Department of Labor and Employment had already spoken with labor groups to strike a balance and alleviate the inflationary pressures on workers.
The wage hike petitions cited the continued increase in commodity prices.
“I think our negotiations with workers, with the unions, with the different negotiations, we will be able to come to a good working number, a good compromise,” Marcos was quoted as saying by the Presidential Communications Office.
The President, however, acknowledged that more than 96 percent of the businesses in the Philippines are micro and small.
“Our workers, of course, are asking for a (wage) increase, workers in those small businesses. We might drive the businesses out because they (employers) cannot pay because they are too small,” Marcos said.
Labor Secretary Bienvenido Laguesma, who was also present during the meeting with the ILO chief, said they might be able to resolve the matter within the week.
The current minimum wage in the Philippines ranges from P306 to P570, depending on the region.
