Marcos to study P200 daily min wage hike

President Ferdinand 'Bongbong' Marcos Jr. will examine the economic implications of a proposed P200 daily minimum wage increase for private sector workers, as stated by Malacañang on Thursday.

Palace Press Officer Undersecretary Atty. Claire Castro said that the President aims to provide what is best for Filipino workers and will consult all stakeholders' opinions, including those of regional wage boards.

The Philippine Chamber of Commerce and Industry (PCCI) and Makati Business Club (MBC) expressed concern over a legislated wage hike, saying it could further stoke inflation, hurt small businesses, and reduce the country's overall competitiveness.

Department of Labor and Employment Secretary Bienvenido Laguesma noted that significant increases in minimum wage could lead to non-compliance with labor standards, increased informality in employment, and potential negative effects on economic growth.

During the 123rd Labor Day celebration on May 1, Marcos emphasized the need for careful study of the proposed wage increase considering its potential impact on the Philippine economy, business, and the labor sector.