By Bernadette Therese M. Gadon, Researcher
AVERAGE MONTHLY WAGE fee of chosen occupations decreased by nearly a tenth in 2020, reflecting the economic system’s document contraction as a result of coronavirus pandemic.
The Philippine Statistics Authority (PSA) on Wednesday stated the common month-to-month wages of time-rated employees throughout 190 monitored jobs within the nation declined by 9% to P16,486 in 2020 from P18,108 in 2018, citing the Occupational Wages Survey (OWS).
However, the median month-to-month fundamental pay inched up by 0.6% to P13,646 in 2020 from P13,559 in 2018.
Carried out each two years, OWS is a nationwide survey of institutions using 20 or extra employees. It screens the wage charges of two benchmark occupations — accounting and bookkeeping clerks and unskilled employees — and at most 11 occupations in every of the predetermined 55 out of 71 industries.
“The primary goal of the 2020 OWS is to generate wage statistics as vital inputs to insurance policies on wage and wage administration and wage dedication notably in wage-fixing, value insurance policies and collective bargaining negotiations,” the PSA stated.
For the 2020 OWS, a complete of 190 industry-specific jobs have been monitored. The reference interval covers the pay interval that features Aug. 31, 2020.
Among the many 18 industries lined within the survey, mining and quarrying employees noticed a rise of their median month-to-month fundamental pay by 14.5% to P13,272 in 2020 from P11,590 in 2018. Staff within the electrical energy, gasoline, steam, and air-conditioning provide sector noticed a ten.7% rise in pay to P27,253 from P24,627, whereas these in human well being and social work actions noticed wages improve by 9.8% to P14,721 from P13,411.
In the meantime, employees within the following industries noticed a decline of their median fundamental pay in 2020: monetary and insurance coverage actions by 13.5% (to P15,986 in 2020 from P18,486 in 2018); actual property actions by 9.7% (P16,238 from P17,989); and wholesale and retail commerce, restore of motor automobiles and bikes by 5.3% (P12,592 from P13,299).
When it comes to allowances, the PSA reported a 43.1% rise in median month-to-month allowances throughout all industries amounting to P2,456 in 2020 from P1,716 in 2018.
The survey additionally recognized the highest 10 highest-paying occupations within the nation, with mathematicians, actuaries, and statisticians main with P63,368 per 30 days, adopted by pc community professionals (P59,787 per 30 days), and geologists and geophysicists (P50,449 per 30 days).
Economists largely blamed the decline in month-to-month common pay to the fallout introduced by the coronavirus illness 2019 (COVID-19) pandemic.
Since March 2020, the Philippines has applied quarantine restrictions to include the unfold of COVID-19, leading to lowered mobility for employees.
The strict lockdowns battered the economic system, which posted a document 9.6% contraction in 2020. Philippine economic system rebounded final yr with a gross home product progress of 5.6%.
Some firms have since then applied distant or hybrid work setups.
“The decline in productiveness on account of work stoppages related to lockdowns and mobility restrictions contributed to the decline within the common month-to-month wage fee,” College of Asia and the Pacific Senior Economist Cid L. Terosa stated in an e-mail. “Additionally, the common month-to-month wage fee fell as a result of the provision of employees far exceeded the demand for them.”
UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion stated that the outcomes of the OWS survey confirmed how different occupations decreased within the ranks, particularly on jobs that have been closely affected by the pandemic corresponding to airline-related occupations.
“I seen that one particular highest paid job lacking on the record is the airline pilot and it isn’t laborious to determine why. The pandemic has virtually obliterated the job and associated jobs and would positively take extra time for the job to return again,” he stated in an e-mail alternate.
Regardless of the advance within the median fundamental pay and allowances in 2020, this didn’t result in the creation of extra jobs, Mr. Terosa stated.
“Clearly, occupations requiring increased degree expertise units acquired the best pay. The pandemic didn’t have an effect on occupations that may simply benefit from the shift in the direction of totally different working preparations and technology-based duties,” he stated.
Likewise, Mr. Asuncion famous that the rise is simply “non permanent.” “It’s becoming to notice that full-time jobs have declined and part-time jobs grew throughout the top of the pandemic. There was job creation, however they’re extra non permanent and time-bound,” he stated.
Each economists count on a rebound each within the common and median month-to-month fundamental pay of the Filipino employees within the subsequent spherical of the OWS because the economic system step by step picks up. In addition they see a rise within the technology-related jobs going ahead.
“Within the new regular, occupations involving distant work, e-commerce, automation and associated expertise will likely be paid extra extremely than the remainder,” Mr. Terosa stated. “Demand for high-wage jobs that require higher training, intensive coaching, and versatile expertise will proceed to develop.”
“Total, expertise and knowledge science jobs will prepared the ground,” Mr. Asuncion stated.