Marcos cites need to study wage hike due to its effects on economy

On Labor Day, President Ferdinand ''Bongbong'' Marcos Jr. underscored the need to study wage hike as this has an impact to the country's economy.

''Sa usapin naman ng pagtaas ng suweldo, masarap pakinggan ang matatamis na mga pangako, ngunit ang mga ito ay may epekto sa paglago ng negosyo, trabaho, at ekonomiya. Kaya’t kailangan na pag-aralan natin nang mabuti,'' Marcos said in his speech at the 123rd Labor Day celebration in Pasay City.

(Regarding talks on wage hike, it's good to hear sweet promises but these have effects on the development of businesses, jobs, and the economy. That's why we need to study this.)

''We hear the call of our workers for better wages and assure you that your concerns are being addressed through the Regional Tripartite Wages and Productivity Boards,'' he added.

Marcos emphasized that his administration stands firm in its commitment ''to protecting and advancing workers’ welfare while promoting inclusive economic development.''

The review of the minimum wage rates in some regions is set to start this month, according to the Department of Labor and Employment (DOLE), noting that this is upon the order of the President.

The DOLE said it is ready to implement the P200 legislated wage hike if the Congress passes the measure and Marcos approves it.

Aside from that, Marcos said the government remains steadfast in its task to fully advance international labor standards, including the workers’ rights to freedom of association, their right to organize, and the protection of human rights.

''This is why the Philippines is committed to ratifying the ILO Convention No. 155, establishing the core framework for Occupational Safety and Health management at national and workplace levels, including a dynamic policy approach to OSH,'' he said.

He also ensured that the government continues to improve the labor dispute resolution services.

''We also continue to restore the status of the Philippines in the international community as a beacon of the democratic rights and civil liberties of workers in the Asia Pacific,'' Marcos said. — RSJ, GMA Integrated News