The Philippines has approved a record-breaking wage increase for minimum wage earners in Metro Manila, set to be implemented in two stages. While the government has hailed the raise as historic, labor groups and economists argue that the increase is insufficient to combat the rapidly rising cost of living. The new daily wage for non-agricultural workers will rise from 695 pesos to 755 pesos this month, and then to 780 pesos by January. AI
RANK_REASON Significant policy change regarding wages in a major economic region. [lever_c_demoted from significant: ic=1 ai=0.1]
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