President Ferdinand R. Marcos Jr. announced today that he will meticulously examine the potential economic ramifications of the proposed PhP200 increase in the daily minimum wage for private sector workers. The President’s commitment is to ensure that any final decision effectively balances the welfare of Filipino workers with the long-term sustainability of businesses across the nation.
In a statement read by Presidential Communications Undersecretary and Palace Press Officer Claire Castro on Thursday, President Marcos Jr. emphasized, “We will look at the economic implications of this and how to resolve this with the opinion of the wage boards, since the wage boards are also the creations of Congress.”
The President’s remarks come in response to inquiries regarding his inclination to sign the wage increase bill once it successfully navigates both chambers of Congress. Palace Press Officer Castro reiterated President Marcos Jr.’s dedication to upholding the welfare of Filipino workers while safeguarding the overall stability of the economy. “The President wants to provide what will benefit Filipino workers. All aspects and the concerns of all stakeholders will be looked at,” Castro stated.
The House of Representatives on Wednesday overwhelmingly approved House Bill No. 11376, which seeks to increase the daily minimum wage for private sector workers by PhP200, with 171 affirmative votes, one negative vote, and zero abstentions. This follows the Senate’s earlier approval of its version, Senate Bill 2534, which proposes a PHP100 daily minimum wage hike.
If enacted into law, this legislation would mark the first nationwide legislated wage increase since the Wage Rationalization Act was passed in 1989.
President Marcos Jr. recently met with labor leaders in Malacañang last Tuesday, reaffirming his unwavering commitment to protecting the rights and advancing the interests of workers throughout the country. The ongoing assessment underscores the administration’s thorough approach to addressing critical economic and labor concerns.
