BSAT-2B
TTH 4:10-5:40
MININUM WAGE INCREASE FOR LABORERS
http://anc.yahoo.com/news/dole-defends-p10-wage-increases--reiterates-push-for-two-tier-wage-system-054017300.html
http://anc.yahoo.com/video/dole-defends-p10-increase-minimum-052041503.html
The Philippine economy is making its way to the world economic ladder. Its industries, agricultures and services are also helping the Philippine economic growth. Hence, the Department of Labor and Employment (DOLE) are increasing the labors' minimum wage by P10. Yet employees are still unsatisfied with the news because for them, it is still small.According to Mr. Alan Tanjusay, spokesperson of TUCP, it is not good to have different wages among employees and employers since all the prices they will buying in the market are the same. He did not also agree in two tier system because it will divide work force and will not create harmony among workers. According to Yahoo!, DOLE reiterated the push for a two-tier wage system where wage increases and incentives will be based on the performance of the workers. These issue simply tells us that economics in the Philippines is working thoroughly. The positive side of having an increase in minimum wage is that workers can buy their basic consumption in the markets. Even though the prices are higher, still many consumers can afford to buys those things because of an increase in wages. It also helps them generate savings for their future investments such as SSS, Pag-ibig, Philhealth and other security funds. But, when it comes to having the same wages among employees and employers, it is not possible because fixed wages are robbing the employers to become unproductive in competing globally. An increase in wage also be a problem because it would be out from the market. It could also lead us to the problem of pushing away investors from other countries. If the continuous increase in wage is still penetrating, many companies will downsize workers and others will close their firm because they can not afford to give wages to workers for what is suppose for them. it can also lead into difficulty in creating a job for Filipino workers. Lastly, increase in wages can cause inflation here in the Philippines. Being part of the economic class helps me critic economic problems and situations before making my conclusions. Therefore, I conclude that the impact of wage increase in me is not highly appreciated because of some effects that I have listed. An increase in wages can be a good news for all but sometimes it also lead into country's economic problem. We should all be aware of the effects in an increase in wages because we can be affected by the problems if there is. Before the people will have a strike for salary increase, they should all be aware for the effects in the future.
