Wage hike not feasible — Valte
By Rocky G. Nazareno 03/21/2012Malacañang yesterday rejected a proposal to increase salaries of daily wage earners by P125, saying it would “not be practicable” as this could translate into additional P1.6 trillion in labor costs to employers and could result in closed businesses and more laid-out workers.
Presidential deputy spokesman Abigail Valte said the wage increase could even do more harm than good to the economy.
Valte explained that an initial projection showed that an across-the-board, legislated wage hike of P125 would raise the salary of each daily wage earner by P3,250 a month for 26 days’ work..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/nation/20120321nat1.html
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