50-50 split between profits and workers` wages more than fair- IBON

Due to the inflation the price of goods and services continue to increase and some workers find
it difficult to cope up with this situation specially those workers who earn a minimum wage. In
connection to this, the research group IBON suggest that a meaningful wage hike is urgent for nominal
wages to keep up with the rising cost of living. They stressed that raising the minimum wage to a living
wage corrects decades of injustice where workers create huge profits for employer but receive meager
wages. This 50-50 split between profits and workers` wages will be more than enough. Since, workers
are the one who work hard for the employers to create huge profits, they should receive the right salary
for their hard work.

According to them, the average minimum wage across all regions is only Php440 or just a little
over-one third (36%) of the Php1,207 average family living wage (FLW) nationwide for a family of five, as
of March 2024. This shows that it will be difficult for the minimum wage earner to survive everyday
specially if their family is large. Since, it will be a challenge to them to manage their finances and allocate
their budget for everyday expenses. As of now, the NCR has the largest minimum wage of all the regions
at Php610 but is barely half of the FLW. However, the gap is even worse in the other regions with the
minimum wage which is not even one fifth of the FLW.