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President Ferdinand Marcos, Jr. raises the torch signaling the start of the Palarong Pambansa in Cebu City as (inset photo) athletes dance their way during the ceremonies. PCO
VOL. XXXVIII • NO. 145• 3 SECTIONS 16 PAGES • P20 •WEDNESDAY, JULY 10, 2024 •
‘140k workers may lose jobs with P35 pay hike’ But more jobs expected with rising economy—NEDA By Charles Dantes
S MUCH as 140,000 workers may be negatively affected by the P35 daily minimum wage hike in Metro Manila that will take effect on July 17.
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National Economic and Development Authority Secretary Arsenio Balisacan, however, said the the impact on the economy is "very negligible." "The national output GDP (gross domestic product) would be impacted negatively -- just one-tenth of one percent. It is very negligible. It could increase unemployment rate but it is a negligible number,” Balisacan said.
"It could impact something like 40,000 to 140,000, depending on the region, but still again, not as big as one would expect if those were much higher,” he added. While several employers may be unable to retain all their workers with the new wage hike, there are still some 600,000 available jobs for affected individuals to choose from, Balisacan said.
“For so long as the economy is expanding because of investments coming in, the offsets will be there that’s why the economy can still grow,” he said. “New jobs open up in the economy and our economy continues to grow at 6 to 7 percent this year so that we’ll be accompanied by quite a lot of jobs,” Balisacan added. Labor Secretary Bienvenido Laguesma, for his part, said DOLE continues to “closely monitor the possible impact of any wage adjustments.” “Any transformation or anything that happens in the place of work will result in some impact whether positive or negative,” Laguesma said. The P35 wage hike in Metro Ma-
nila will bring the daily minimum wage in the region from P610 to P645 for the non-agriculture sector and from P573 to P608 for the agriculture sector, service and retail establishments employing 15 or fewer workers, and manufacturing establishments regularly employing less than 10 workers. The country’s unemployment rate fell to 4.1 percent in May this year from 4.3 percent in the same period last year, according to the Philippine Statistics Authority (PSA). The unemployment rate in May, however, was slightly higher than the 4 percent recorded in April 2024. In terms of level, the number of unemployed persons in May 2024 was estimated at 2.11 million. Next page
China’s monster ship faces off with PH vessel at Escoda shoal THE massive China Coast Guard ship, dubbed “The Monster,” has been in a continued face-off with the Philippine Coast Guard’s BRP Teresa Magbanua at Escoda Shoal, the Philippines Navy said. Philippine Navy spokesperson for the West Philippine Sea Rear Admi-
ral Roy Vincent Trinidad, quoted by ABS-CBN News, said the presence of the 165-meter CCG vessel 5901 in Philippine waters is already “illegal” because it already stayed at the atoll. The ship in recent weeks conducted patrols in the Philippine waters, Next page
A PARTY-LIST lawmaker on Tuesday accused an unnamed top official of the Commission on Elections
(Comelec) of opening offshore bank accounts and receiving up to P120 million from the controversial South Korean firm Miru Systems. Citing reliable sources and documentary evidence, Rep. Rodante Marcoleta Next page
Kris Aquino’s sons call on First Lady Liza By Charles Dantes
EVIDENCE. A listing of overseas bank accounts allegedly containing payoffs to a Comelec official was presented by Rep. Rodante Marcoleta during a press conference.
By Macon RamosAraneta, Maricel Cruz and Rachelle Tonelada THE Senate will prioritize the ratification of the Reciprocal Access Agreement between Japan and the Philippines that will allow the deployment of troops on each other's territory as they boost ties in the face of China's growing assertiveness. Senate President Francis Escudero gave the commitment as he underscored the defense pact's importance to boost the country's position in the West Philippine Sea. Malacañang has not yet submitted to a copy of the RAA to the Senate. Next page
Gov’t still to decide on total POGO ban, says Balisacan Socioeconomic planning Secretary Arsenio Balisacan on Tuesday said that cabinet secretaries have yet to seriously tackle proposals to impose an outright ban on all Philippine Offshore Gaming Operations (POGOs). In a Palace briefing, the National Economic and Development Authority's (NEDA) chief explained that key officials will eventually have to weigh POGOs' fate in the country against the administration's focus on generatNext page ing jobs.
Solon charges Miru payoffs to unnamed Comelec official By Maricel Cru and Vito Barcelo
Senate vows to ratify RAA between PH and Japan
FIRST Lady Liza Araneta-Marcos posted on Tuesday a group photo with Kris Aquino’s sons, Joshua and Bimby, who visited her office recently. "Thank you Bimby and Josh for dropping by. It was so nice to see you guys after all these years," the First Lady captioned the photo. The image features Mrs. Araneta-Marcos wearing a mustard yellow dress flanked by
the Aquino siblings. Josh and Bimby are wearing casual black and white shirts, respectively, with the Philippine flag behind them. Josh and Bimby are among the grandsons of the late democracy icons—Senator Benigno Aquino, Jr. and former President Corazon Aquino—who opposed the administration of the First Lady’s father-in-law President Ferdinand Marcos, Sr. Courtesy: Liza Marcos/Facebook
House to ban sloganeering on dresses during SONA HOUSE Secretary General Reginald Velasco said Tuesday guests wearing outfits containing protest, derogatory statements or illustrations will be banned from attending President Ferdinand Marcos Jr.’s third State of the Nation Address (SONA) on July 22. “This is a formal event. We will be very strict in the expression of protest in a SONA outfit. They'll be requested to change because it is the SONA. It is not a day of protest,” Velasco told Next page reporters.