People are talking about the proposed P100 (US$1.79) wage increase. Supporters like Joey Concepcion, Founder of Go Negosyo, stress how important it is to adopt the increase at the same time as efforts to improve workers’ skills in the Philippines.
Furthermore, Concepcion talked about how important it was to improve people’s lives and how important an active customer base was for the Philippines’ consumer-driven economy. He said that higher wages would encourage people to spend more on consumption, which would help the economy.
Concepcion advocated for a gradual implementation of the wage increase, citing previous instances of gradual wage changes under various presidential administrations. He said that price hikes in the past under the Arroyo, Aquino III, and Duterte administrations happened over time and ranged from P10 (US$0.18) to P33 (US$0.59). Since President Bongbong Marcos was in office, wages have gone up by a total of P40 (US$0.72).
Concerned about businesspeople who are having a hard time, Concepcion stressed how important it is to think about medium-sized businesses, which make up a big part of the business world. Philstar stated that he warned against actions that could slow down the ongoing economic recovery efforts, especially since there are signs of good things to come in the form of foreign investment and corporate confidence in infrastructure projects.
He said, “We worry about those who are just barely making it.” “Our economy is picking up speed now that the pandemic is over, so we should be careful not to stop the progress.”
Concepcion pushed for a comprehensive approach, stressing the need to put job growth and workforce development ahead of wage increases. He said, “Creating jobs is important, and that’s what we want to do.” Filipinos will be better off if more jobs are made. We want to see more work and more demand. Once that happens, wages will follow.
