SunStar Publishing Inc.
THE Mandaue Chamber of Commerce and Industry has voiced concerns regarding the proposed wage increase in Central Visayas, particularly its potential impact on local businesses and the broader economy. The discussion is expected to take center stage during the upcoming public hearings scheduled by the Regional Tripartite Wages and Productivity Board on August 20, 2024.
said on Friday, August 11 that any wage adjustments in Cebu or elsewhere in the Philippines would directly affect inflation rates, customs costs, and ultimately, the employment landscape. The unemployment rate in Mandaue City stands at 4.1 percent, a slight improvement from the 4.8 percent recorded in August of the previous year.
expressed concern that a wage hike could potentially reverse these gains, impacting both the employability of workers and the overall economic progress of Mandaue City and the country.It is estimated that there are over 500 businesses in Mandaue City. Working hoursBusiness owners in Mandaue City are apprehensive about how they will cope with a wage increase, said Ynoc.Some anticipate having to reduce working hours or impose forced leaves to manage costs, he added.
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