News

Economic News in the Philippines

15 May 2020 - The push to build more infrastructure in the Philippines may help the economy to recover but won’t be sufficient, say reports. The Philippine economy has contracted 0.2% in the first quarter as the country experiences a lockdown to tackle the spread of the novel coronavirus. The government is reportedly reviewing projects worth 4 trillion pesos, which will be a major source of funding for infrastructural development. Complete the survey on living and working during Covid-19

2 April 2020 The medical sector in the Philippines is facing a host of issues, which are further exacerbated by the pandemic of the COVID-19. Staff at multiple hospitals have faced threats and challenges to safety, alongside uncertainty about the situation regarding their own health. Due to their close contact with patients medical personnel are facing problems from other members of society.

Some nurses were evicted from their houses while other workers were disallowed to leave their homes by their village captains; others were denied public transport or refused service at eateries. The people who work in the healthcare sector do not have the trust of the community, thus creating an absence of individual security. The government has also been struggling to provide them with adequate and effective protective equipment. So what laws exist for the health and safety of the workers in the Philippines?

27 March 2020 - The Philippines is facing massive problems due to the precarious situation created by COVID-19 (novel coronavirus). Although the nation has reported fewer cases as compared to other countries in its vicinity, this could be because of a lack of testing. A spike in the numbers of speculated carriers and infected people has caused a strain on medical resources, especially medical personnel. Doctors working in private hospitals have been turning away patients for the virus. The ratio of deaths to detected cases is high, similar to the situation in Indonesia. Former Health Minister Esperanza Cabra has mentioned that the supposed infection rate is just the “tip of the iceberg”, because the total number of tested people is only at 2,147, with 803 confirmed cases and 54 deaths. The health system and medical practitioners are bearing the brunt, working overtime and putting their own safety at risk. Fill out the survey on Work and Life during the COVID-19 pandemic

2 March 2020 Following the closure of the Honda Plant in the Philippines, workers have successfully claimed separation pay, with negotiations panning out successfully. The separation pay for the 387 workers that were affected includes 280% of their monthly wage for every year, a lump sum of P110,000 and extended health benefits until December 2020. The primary motive behind the measures taken to provide the workers with a good separation package is that a majority of the employees that worked at the plant are now above 40 years of age, and have been working at the Honda plant for decades. Therefore, it would be highly difficult and unlikely that they find a job somewhere else. Learn about Employment Security

24 February 2020 - 2,000 workers in Manila, Philippines are said to be affected as the Honda Motors Unit decides to stop local production, according to the Trade Union Congress of Philippines. The Congress adds that as many as 400 regular workers of the company would be out of work following this adverse shock.  Around 1,000-2,000 employees that work as suppliers to Honda will also be out of work once their contract expires, and they will not be able to avail their separation benefits or back pay. To help with the situation, the Philippine Department of Trade and Industry has decided to provide legal help to minimise the damages and losses that these workers would face. Take the Salary Survey!

21 February 2020 According to a CNN report, the removal of the overtime pay for Immigration officers in the Philippines has caused them to resort to bribery. This was brought to the attention of the authorities by an immigration whistleblower who submitted an affidavit to the Senate hearing on the 20th of February. In 2016, when the Department of Justice removed the overtime pay for Immigration officers, they started giving 'VIP services' to Chinese nationals who were asked to pay a service fee of P10,000 out of which the immigrant officers kept a fifth of the sum and the remainder was split between foreign tour operators and other stakeholders. Learn about overtime pay in your country!

29 January 2020 Online hiring in the Philippines has shown a double digit growth in the fourth quarter, a new report by Monster.com says. The largest contributor to this growth rate was the IT-telecom industry, the growth rate for which added up to a staggering annual growth rate of 28%. In the same report, Monster.com - the online job postings company, made further commentary about how the rise in online hiring will lead to increased consumer spending which would be further followed by industrial development. For the economy as a whole, this would build resilience, and employers should start to future-proof their workforce.  Check Salaries in the Philippines!

21 January 2020 - A study conducted by the Dezan Shera and Associates - an investment consultancy firm - has shown that the minimum wage in the National Capital Region of the Philippines which is P537 is half the cost of living in the region, which comes up to P1008 for a family of four. The study shows that this discrepancy was the primary reason as to why Unity for Wage Increases (U-WIN), an alliance of unions, had petitioned for the minimum wage to be hiked up by P237. That, however, would only be covering 75% of the staggering costs of living. Measure the high discrepancy between Minimum wage and Cost of Living

14 January 2020 Ron P. Salo, a representative of the Kabayan Party of the Philippines, is pushing for the national minimum wage to be pushed to P650. He cited inflation and inequitable salaries of workers as reasons. The bill he filed also calls for the abolition of the regional wage board system. In the Philippines, minimum wages are decided by a two-tiered system, due to which different regions earn varying amounts. Furthermore, Salo stated that the cost of living in the provinces has increased and that wages in the private sector were lagging behind. Minimum wages in the Philippines 

7 January 2020 Filipino teachers are about to receive increases in salaries this year. The salary increase was originally announced in 2016. The delay in implementation led to a number of strikes by teachers across the country. However, the current pay hike has also stirred dissatisfaction among the teachers as their proposed hike is less than the one that military officials and the police receive. Their objection comes from the stark disparity in the hikes that they will receive in comparison to the hikes that officials in  uniform receive. The police and soldiers will get hikes ranging from 50%-100% increments, whereas the teachers will  only get P6,000 spread across  four years. Find out more about our Income Survey

10 December 2019 - The recent Senate Bill 1219 is pushing for a hike in the basic salaries that government employees in the Philippines receive. If the bill is passed, then starting January 2020, the average increment in salaries would total up to a staggering 23.24%. Additionally, the report mentions that the highest increment - between 20% to 30% - will be given to government employees with lower pay grades such as teachers and the lowest increment - 8% - will be awarded to government officials with higher pay grades such as the Director and the President. The reason behind this, Senator Revilla states is that the previous Salary Standardization Law did not account for inequality and the negligible salary increases that low-ranking government employees received.  Take the Salary Survey

11 December 2019 - News reports indicate a possibility of the Cost of Living Allowance (COLA) being resumed from 2020 for teachers in Cebu City, Philippines. The COLA includes an additional remuneration of P10,000  per year which was discontinued in 2017 by the Commission of Audit on the grounds that their existing salary accounted for this need. After the discontinuation of the COLA in 2017, a sum total of P5,000 was deducted from the salaries of all the teachers who enjoyed the benefits of COLA in 2015 and 2016. According to the city mayor, however, the appeal on the COLA is still pending in court and this could mean that all the money that had to be returned as a result of the discontinuation of the policy might be given back to the teachers. Furthermore, the policy will be modified once resumed and the amounts given to teachers might rise and add up to payments between P1200 to P1500 per month. Take the cost of living survey

loading...
Loading...