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A warning against immediate pay hikes was raised yesterday by the National Economic and Development Authority (NEDA), ahead of Metro Manila wage board consultations scheduled to start on Thursday.
Dennis M. Arroyo, NEDA director for national policy and planning who also sits as member of the wage board, said restraint was needed given the eurozone's fiscal woes, which he claimed would harm prospects for a global economic recovery.
The Metro Manila wage board has scheduled three consultations this month to discuss the Trade Union Congress of the Philippines' (TUCP) petition for a daily minimum wage hike of P75.
"We are lifting the yellow light at the moment, …