Filipino workers' wages should correspond to the country&rsquo;s inflation rate, according to the National Economic and Development Authority (NEDA) on Tuesday, Nov. 7.
Philippine Statistics Agency (PSA) reported that the country&rsquo;s <a href="https://www.dzrh.com.ph/post/inflation-slows-down-in-in-october">inflation rate</a> for October is at 4.9 percent, a drop after two straight months of acceleration.&nbsp;
&ldquo;On average, tumaas ang presyo ng bilihin pero for 4.9 percent lang medyo mababa kesa noong September. Ang kailangan din kasi diyan may karampatang increase in the incomes,&rdquo; NEDA Undersecretary Rosemarie Edillon told reporters in a Palace briefing.
Edillon noted that all-of-government programs should exert coordinated efforts to increase Filipinos&rsquo; wages and employability.&nbsp;
&ldquo;Papasok din dito yung mga programa to make sure that we increase the employability of our workers [...] we improve on their skills kaya talagang all-of-government approach talaga 'to eh no,&rdquo; she said.&nbsp;
&ldquo;It&rsquo;s also about attracting the right kind of investments para mapababa natin yung cost of doing business para kapag yung mga goods and services that are being produced pwede rin nila maibaba yung cost. So, ang daming kailangan na coordinated efforts para dito,&rdquo; Edillon added.&nbsp;
PSA released its data early Wednesday which showed that the <a href="https://www.dzrh.com.ph/post/unemployment-rate-drops-to-4.5percent-in-september-2023-psa">unemployment rate</a> eased to 4.5 percent, a stark difference from the previous year&rsquo;s 5 percent.This accounted for 2.25 million unemployed Filipinos from last year&rsquo;s 2.5 million.&nbsp;
&ldquo;Kasi nakita rin natin yung latest na labor force survey [...] actually bumababa ang ating unemployment rate so ibig sabihin dumadami rin talaga yung nagkakaroon ng trabaho. So, ang interest na lang natin ngayon is mapadami pa to and make it better quality jobs,&rdquo; the NEDA Undersecretary said.&nbsp;
Edillon, however, claimed she will not support legislated wage hike because the current wage setting mechanism is working
&ldquo;The wage setting mechanism is working. Kanina, ni-report ni Sec. Laguesma, 11 of the regional wage boards have already issued 'yung mga wage increases, and all of these were decided by consensus,&rdquo; she said.&nbsp;

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Workers’ wages should correspond to PHL inflation rate – NEDA