Local Businesses Can Afford Wage Hike — Ibon
MANILA — Local businesses are in a position to grant wage hikes since workers have been producing more in the last seven years, according to independent think-tank IBON Foundation.
According to IBON research head Sonny Africa, labor productivity or the ratio of national output to employment, has been rising for the last decade. Between 1999 and 2006, labor productivity has increased by 56.3% in nominal terms and 13.1% in real terms.
