Protracted high inflation since the last quarter of last year has now completely eroded the improvement caused by the last round of minimum wage hikes of the regional wage boards, according to an independent think tank. Know more:
PROTRACTED high inflation since the last quarter of last year has now completely eroded the improvement caused by the last round of minimum wage hikes of the regional wage boards, according to an independent think tank.
IBON’s data showed this was reduced by P26 in January due to the rising cost of basic goods and services despite the much-touted economic growth by the government. “It is a wrong exercise to subtract the nominal wage from the real wage. The real wage only makes sense if you compare the value of a number between years …it is like apples and oranges,” Africa told BusinessMirror in a phone interview.
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