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What is just Wage?

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on 22 August 2014

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Transcript of What is just Wage?

what is just wage?
just wage is defined as that remuneration
which is enough to support the
wage-earner in reasonable and frugal comfort.
Catholic Church teaches us that a "Just wage is legitimate fruit of labor"
the teachings of
catholic church
Rerum Novarum
(Pope Leo XIII)
also known as
"Capital Labor"
One of the most impassioned treatises written by a pope on the sacredness of work and the dignity of the working person.
Quardragesimo Anno
(Pope Pius XI)
An encyclical that advocated the minimum wage. Pope Pius XI introduce Profit sharing and giving workers a say in a company's management.
Pope Pius XII develop the concept of family wage as one sufficient wage for a single wage-earner to support his family
Mater et Magistra
Pope John XXIII and Paul VI advanced the church's teachings on economic justice.
Pope John XXIII called on governments to reign in business abuses and to press full employment policies
it also focused the world's attention to the worldwide problem of the widening gap between the rich and the poor, the arms race and the plight of the farmers
Laborem Exercens
(Pope John Paul II; Human Work)
An encyclical letter that discussed the modern perspectives and problems of human work and the duties f the members of the church towards it
Pope John Paul II offered a detailed assessment of constitutes just compensation, declaring that workers have "fundamental rights" to health-care insurance, suitable working conditions and rest periods.
Pope also argued that wages should be sufficient so that women with children aren't forced to worked so that "it should be possible for a mother to devote herself entirely to her children
Centesimus Annus
John Paul II
on the 100th anniversary of Rerum Novarum on Mary 1, 1991, Pope John II stated that
"society and state must ensure wages levels adequate for the maintenance if the worker and his family, including a certain amount of savings"
The issue of just wage has also been discussed by other agencies
Universal Declaration of Human rights
"The right to work, to free choice of employment, to just and favorable conditions of work, and to protection against unemployment and the right to equal pay for equal work"
International Convention on Economic, Social and Cultural Rights
"The Right to fair wages and equal remuneration for equal value"
The International Labor Office Convention has adopted ILO Conventions No. 100
"Equal Pay for men and women workers"
Philippine Constitution and Republic Act 6727
The wage Rationalization Act declared that policy of the state to rationalize the fixing of minimum wages and promote productivity-improvement and gin-sharing scheme yo ensure a decent standard of living for the workers and their families
Government Agencies Involve
National Wage and Productivity
Regional Tripartite Wages and Productivity Boards

Factors to Consider in the Formulation of Fair Wages
External Market Factors
Laws and Regulation
Cost of Living Rate
Organizational Factors
Job Factors
Individual Performances

Some issues on Just Wage
The Minimum wage mandated by the government is not a guarantee just and fair wage
Organization and businesses usually conclude that they are legally and morally right when they fulfill their mutual agreement with employees. it is objected that the mutually agreed upon wages may not be advantageous to the worker
Geographic differences hinder the formulation o a perfectly common definition of fair wage. Some communities have a higher cost of living than others
Wages indexation to cost of living, where wage is automatically adjusted with the increases of cost of living, is not usually met by majority of the employers. One valid reason is the organizations' insufficient financial resources for the obvious fact that they too are unfavorably affected by such economic fluctuations.
Companies have different interpretations of the justifiable pay for a certain job positions, skills and tasks. Thus, the prevailing rate industry alone could not perfectly establish a just wage
The Law of Supply and Demand on labor, e.g., the more the supply of labor the less compensation being given to workers
Inflation Rate. As one of the major economic indicators, the inflation rate also dictates the formulation of just wages as it affects the prices of commodities.
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