DOLE to Assist MSMEs Affected by P85 Wage Hike

Finance execs call for reforms to preserve wage hike gains

MANILA, Philippines With Metro Manila’s historic P85 daily wage increase set to take effect this week, a group of financial executives said the government’s next challenge is pursuing reforms that would prevent higher labor costs from weakening job creation and spilling over into inflation. In a statement, the Financial Executives Institute of the Philippines (Finex) said

DOLE to assist MSMEs affected by P85 wage hike

 The Department of Labor and Employment  will tap its Adjustment Measures Program to provide immediate assistance to micro, small and medium enterprises affected by the P85 minimum wage increase in Metro Manila, Labor Secretary Francis Tolentino said.

DOLE readies support system for MSMEs not ready for P85 wage hike

The Department of Labor and Employment (DOLE) will be offering assistance program to micro, small, and medium enterprises (MSMEs) in Metro Manila that are not yet ready to bear the impact of the P85 wage increaseDOLE Secretary Francis Tolentino said the move is aimed at cushioning the adverse effects of the wage increase particularly to small businesses with limited capital and facing financial constraints on wage adjustment.The P85 will be impl…