A recent study conducted by research firm Picodi.com has revealed some concerning news for Filipino workers. Accordingly, Filipino workers will need to work for the next 270 years to earn $1 million (P55 million) based on the country’s minimum wage.

The study, released on April 12, analyzed the minimum wage in 102 countries. The Philippines ranked a disappointing 89th on the list. The highest-ranked country on the list was Switzerland, where it would take just 14 years and three months of work to earn $1 million. The highest-ranked country in Asia was Singapore, where it would take 16 years and 11 months to make $1 million. The lowest-ranked country on the list was Pakistan, where it would take a staggering 621 years and three months to earn $1 million.

The research firm based its findings on the minimum wage of each country and the average cost of living. The daily minimum wage in the Philippines is P537 per day, equivalent to about $11. The study also took into consideration the country’s inflation rate, which was at 8.6% in February.

The low ranking of the Philippines on the list is a cause for concern, as it highlights the challenges faced by workers in the country. Despite the efforts of the government to increase the minimum wage, many workers still struggle to make ends meet. The high cost of living, coupled with inflation, makes it difficult for workers to save and invest in their future.

The study serves as a wake-up call for the government to address the issue of income inequality and provide better opportunities for workers. The government must work towards creating an environment that is conducive to economic growth and development. It includes investing in education and training programs to help workers acquire the skills needed to succeed in the modern economy.

In conclusion, the study should serve as a reminder that there is still much work to be done in the Philippines to ensure workers can earn a decent living. The government must take action to address the root causes of income inequality and provide better opportunities for all Filipinos. Only then can we hope to see a future where workers can earn a fair wage and achieve financial stability.