The high prices of petroleum products as well as the elevated inflation have made it difficult for Filipino workers to make ends meet, despite the minimum wage hike that took effect on June 1, according to a local think-tank. READ:
The high prices of petroleum products as well as the elevated inflation have made it difficult for Filipino workers to make ends meet, despite the minimum wage hike that took effect on June 1, according to a local think-tank.
The Philippine Statistics Authority earlier reported that the country’s headline inflation rate rose to 6.9 percent in September, significantly higher than the 6.3 percent in August this year and the 4.2 percent in the same month last year. It is noted, however, that the inflation of meat has slowed from 12.8 percent in September 2021 to 9 percent in September 2022.
According to Ibon in its September report, the absence of quality jobs, persistent poverty, and lack of savings make it difficult for the people to cope with the high cost of living.Meanwhile, as of July 2022 there are supposedly 4.8 million additional jobs created since January 2020 but over half or 2.7 million of this is just in part-time work.
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