This infographic compares the current daily minimum wages set by the country’s Regional Tripartite Wages and Productivity Board and the inflation-adjusted minimum wages as of July based on latest preliminary data by the Philippine Statistics Authority (PSA). While the current minimum wages are determined at the regional level to account for factors such as companies’ capacity to pay and costs of living, real wages are obtained after factoring in the general price increases (i.e. inflation rates). Inflation-adjusted wages were 10.7%-16.9% lower in July than their respective current salaries.
Copyright © 2022 SmarterNewsNow.
All Rights Reserved.