What is the minimum wage legislation known as in the Philippines?

The minimum wage legislation in the Philippines is known as the Wage Rationalization Act. This act was designed to establish a systematic method for setting and regulating minimum wage rates across various sectors and regions of the country. Its primary objective is to provide a fair wage to workers, ensuring that they receive adequate compensation for their labor, thereby helping to improve their standard of living.

The legislation sets forth provisions for wage boards to determine regional minimum wages based on the cost of living and the specific economic conditions in each area. This approach allows for adjustments that reflect local economic realities, which is crucial given the diverse range of industries and living conditions across the Philippines.

In contrast, the other options refer to different legislation relevant to labor and employment. The Labor Code provides a broader framework for labor standards and worker protections, the Employment Standards Act is specific to certain jurisdictions like Canada, and the Fair Labor Standards Act is a U.S. law that focuses on minimum wage, overtime pay, and youth employment. However, they do not specifically pertain to the minimum wage laws in the Philippines as the Wage Rationalization Act does.