economy

Minimum wage on Philippine Economy

By: Cristine Ann B. Parungao

 

The number of workers settling on the minimum wage is increasing every year. Most of these individuals are believe to be younger and less educated. They are the individuals who may need cash in a short term basis and prefer to work without sufficient benefits.

But is there an effect on how the minimum wage affects the country’s economy? According to a study of Leonardo A. Lanzona, Jr. on the “Effects of minimum wage on the Philippines economy”, “Minimum wages, more than other forms of regulation, are more directly associated with unemployment.”

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