TUCP: Increases in minimum wage help employers by boosting consumer spending.
The Trade Union Congress of the Philippines (TUCP) said even employers stand to benefit from increasing minimum wage rates nationwide because it would increase consumer spending.
On Friday, the TUCP simultaneously filed wage hike petitions in Central Luzon, Calabarzon, and North Mindanao.
The TUCP is pushing to raise the minimum wage rates in Region 10 by P782. For Region 3 and 4-A is demanding for a P768 minimum wage hike.
To recall, it already petitioned for a P710 wage hike for Metro Manila and P386 in Central Visayas.
It cited the nutritional needs of workers in the concerned regions to justify its new round of wage petitions.
'TUCP assails the dismissive attitude and misleading responses on the urgency of the problem of nutrition deficiency among Filipino workers due to severely diminished take home pay, maintaining that employers,' TUCP said in a statement.
TUCP Vice President Louie Corral stressed the importance of giving additional income to workers amid the recent slowdown in the country's economic growth.
Government economic managers reported gross-domestic product (GDP) for the first quarter of the year fell to 5.6 percent-lower compared to 6.5 percent growth the in the same period in 2018.
Aside from crisis on water and energy supply during the period, Corral also blamed the lackluster economic performance of the country to lack available income of workers.
'The poor do not bank the money that they get. The poor pour the money to the economy by paying for necessary goods and services,' Corral told BusinessMirror in a phone interview.
'The only way they could buy [these goods and services] is if they will have additional income,' he added.
Despite this project benefit, TUCP said the Employers Confederation (ECOP) of the Philippines is still blocking their petitions.
'The Employers Confederation of the Philippines filed a motion to dismiss claiming that the no petition can be filed within one year of a new wage order unless there is an intervening condition,' TUCP said.
TUCP said it hopes employers will reconsider its position on its wage petitions, which will have long term benefit for the country's economy.
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|Publication:||Business Mirror (Makati City, Philippines)|
|Date:||May 10, 2019|
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