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The Wage Rationalization Act, or Republic Act 6727, was enacted in 1989 and it is the ruling law regarding minimum wage rates. It established the National Wages and Productivity Commission which has supervision over Regional Tripartite Wages and Productivity Boards, which ultimately decide on minimum wage rates.
Article 99 of the Labor Code of the Philippines stipulates that an employer may go over but never below minimum wage. Paying below the minimum wage is illegal. [10] The Regional Tripartite Wages and Productivity Boards is the body that sets the amount for the minimum wage. In the Philippines, the minimum wage of a worker depends on where he works.
The federal minimum wage has been stuck at $7.25 since 2009, not even close to the buying power it once brought workers — which peaked all the way back in the 1960s.
According to World Bank Country Director Motoo Konishi, the Philippines had become a "rising tiger" in East Asia. However, at the same time, during the 2010–2011 fiscal year, the increase in the wealth of the richest families in the Philippines, amounting to 47.39%, comprised 76.5% of the GDP increase for that year. [4]
The other states with minimum wage increases put into effect by their own residents were New York, which now has a $15.50 hourly rate — $16.50 for those working in New York City, Long Island ...
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Insofar as expenditures go for the first quarter of 2018, the total amounted to ₱782.0 billion, growing by 27.1%, which also outstripped the 9.7% nominal GDP growth due to the estimated 40.0% increase in capital outlays. Dominquez also said that the expenditure effort also rose by 2.73%, which is the highest increase since 2003.
This group will see the largest minimum-wage increase in the country – $2.28 – with the state’s new minimum wage of $11.13 for all employers. Washington, DC, continues to have the highest ...