According to the Labor Code, minimum wage must also be based on NEEDS of workers, their families

Needs of workers and their families
- Demand for living wages;
- Wage adjustment vis-à-vis the consumer price index;
- Cost of living and changes therein;
- Needs of workers and their families;
- Improvements in standards of living.
- Fair return on capital invested and capacity to pay of employers;
- Productivity.
- Prevailing wage levels.
- Need to induce industries to invest in the countryside;
- Effects on employment generation and family income;
- Equitable distribution of income and wealth along the imperatives of economic and social development.