Metro Manila minimum wage increased to P466
MANILA, Philippines – The wage board has approved a P10-a-day increase in the minimum wage of Metro Manila workers and P15 additional cost-of-living-allowance.
"This will bring the new basic wage to P451 and the new minimum wage to P466," Labor Secretary Rosalinda Baldoz announced this in a statement on Friday, September 6.
These is far lower than the P83 to P125 wage hike labor groups have previously asked, levels that the Employers' Confederation of the Philippines (ECOP) had said would result in company closures and job losses.
The announcement came after the Regional Tripartite Wage and Productivity Board of the National Capital Region (RTWPB-NCR) "unanimously" agreed on the P10 hike, Baldoz said.
The new minimum wage will take effect 15 days after the the wage board published the order in a newspaper.
The RTWPB-NCR has also decided to include the P15 of the existing P30 Cost of Living Allowance (COLA) into the basic wage effective January 1, 2014.
The minimum wage consists of a basic wage and COLA.
"Our workers' take home pay is increased to P11,240 per month, or by 2.1%, compared to the current P11,005 per month. Our workers will get a bigger 13th month pay of P11,651 or an increase of about 5.9% as a result of the COLA integration," Baldoz said. – Rappler.com