LEGAZPI CITY- The Regional Tripartite Wages and Productivity Board (RTWPB) has set at P310 the new minimum wage for workers in Bicol.
The old wage was P290 and P280.
The implementation of the new minimum wage was in response to the high inflation rate in the region that reached some 9.0% in August this year, according to the Philippine Statistics Authority.
Bicol director Alvin Villamore of the Department of Labor and Employment said the new minimum wage passed difficult deliberation with representatives of the RTWPB.
The Board considered the mounting prices of food products, particularly rice and other basic products.
Villamore said the Board has considered a staggered term of implementation of the minimum wage increase. For companies having ten and more employees with a minimum wage of P290, the first tranche of the increase of P15 will be implemented on Sept. 21 and the second tranche of P5 is due on May 1, 2019.
For companies having only one to nine employees with minimum wage of P280, the first tranche (P15) will be on Sept. 21 and the second tranche (P15) is set on May 1 next year.