Cebu biz leader warns of business closures, job creation slowdowns after ‘historic’ P31 increase in minimum wage rate

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CEBU CITY, Philippines - Several members of the Cebu business community expressed concerns over the decision of the government to impose a P31-increase in the daily minimum wage in Central

Labor groups are pushing for a P140 wage increase for Central Visayas laborers like these road construction workers.

In a text message sent to CDN Digital, Yu said micro, small and medium enterprises will be facing a ‘longer and delayed’ journey to full recovery. Or worse, they may suffer downsizing and closures, he added. The Regional Tripartite Wages and Productivity Board in Central Visayas on May 24, 2022 announced that the body agreed to impose a P31-increase in the daily minimum wage, the highest rate granted in the region so far.

 

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