So, here’s the scoop on the minimum wage hike that’s been buzzing around lately. Even though the official word from the National Commission of Minimum Wages isn’t expected until December, it seems like we’re in for a bit of déjà vu. According to the grapevine, the president of the Employers Confederation – brace yourselves for a 20 percent increase. Yep, you read that right, just like last year!
If all goes as rumored, that would bring the annual minimum wage up to a cool 75,000 pesos. To put it in perspective, that’s roughly 4,500 bucks in good old greenbacks, give or take, depending on the exchange rate at the time. So, while we’re waiting for the official confirmation, it looks like there might be some extra jingle in the pockets of hardworking folks come January 1, 2024. Fingers crossed, right?