Money

The Philippines is One of the Worst Countries to Live on Minimum Wage

Only Nigeria and Uzbekistan are behind the Philippines.
IMAGE Banko Sentral ng Pilipinas
ILLUSTRATOR Jasrelle Serrano
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In a study conducted by picodi.com, it was found that Filipinos receive one of the worst minimum wages in the world. Researchers from Picodi wanted to find out whether minimum wage in various countries is enough to afford the minimum comfort of living.

Here are the key takeaways from the report:

  • In terms of year-on-year increase in the minimum wage, the Philippines ranked 17th.
  • Seventy-five percent of Filipinos’ minimum wage is spent on basic food products that meet the monthly nutritional needs of an adult. A higher percentage means a lower rank, hence the Philippines is placed at 52 out of 54 countries.
  • Only Nigeria and Uzbekistan, where the minimum wage does not even cover the costs of the most basic shopping basket, were behind the Philippines.
Photo by PICODI.COM.
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Photo by PICODI.COM.
Photo by PICODI.COM.
ADVERTISEMENT - CONTINUE READING BELOW

According to the Picodi report, the minimum net wage in the Philippines is P5,922. A basic food basket that contains the minimum nutritional needs of an adult costs P4,447 or 75.1 percent of the minimum wage for 2020.

Other Asian countries that implement minimum wage but fared better are Thailand (47th place), Vietnam (46th place), and Malaysia (35th place).

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Mario Alvaro Limos
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