SUMMARY

The Philippines, what was once taunted as Asian Tiger Economy has now faced with

several issues in its economy to name a few are the following;

Corruption or the illegal, bad or dishonest behaviour, especially by people in positions

of power. That could be either petty or state depending on the scale of how the deed was done.

Drug Addiction or the excessive use of drugs that are already damaging to the person’s

well-being.

Islamic Terrorism (also Islamist terrorism or radical Islamic terrorism) refers

to terrorist acts which are committed by Islamists and which have a religious motivation.

Justifications given for attacks on civilians by Islamic extremist groups come from extreme

interpretations of the:

(1) Quran (2) Hadith (3) Sharia law

Unemployment refers to the condition of unwanted job losses, or willing workers

without jobs. The willingness of the unemployed worker to be employed is the key of the idea.

Unemployment could be either Voluntary, Frictional, Seasonal, Cyclical and Structural.

Underemployment is a condition in which workers are employed in less than full-time

or regular jobs or insufficient jobs for their training or economic needs.

 Lack of infrastructures to support economic growth. Infrastructure development is a

vital component in encouraging a country's economic growth. Developing infrastructure

enhances a country's productivity, consequently making firms more competitive and boosting a

region's economy. Not only does infrastructure in itself enhance the efficiency of production,

transportation, and communication, but it also helps provide economic incentives to public and

private sector participants. The accessibility and quality of infrastructure in a region help shape

domestic firms' investment decisions and determines the region's attractiveness to foreign

investors.

Salaries & Wages where the main difference between the two is that salaries are a fixed

upon payment agreed to by both the employer and employee. Wages, on the other hand, may

vary depending on hours worked and performance.

Traffic congestion relates to an excess of vehicles on a portion of roadway at a particular

time resulting in speeds that are slower—sometimes much slower—than normal or "free flow"

speeds. 

Regulations and government legislations imposed that sometimes instead of bringing

efficiency and productivity to the economy is doing the opposite.

 REACTION

Unemployment is already an existing problem in our country and the rate spiked even

more since the start of pandemic. Its known causes come from both the demand or employer and

the supply side or the worker. The demand side may be caused by high interest rates, global

recession and financial crisis. The supply side are the frictional or structural employment. Since

the start of pandemic there is a gradual decreasing of demand of workers due to some industries

that are experiencing down time of their operations. If this continues consumer spending, which

is one of the economy’s key drivers of growth, goes down, leading to a recession or even an

economic depression when left unaddressed.

Underemployment has similar effects with unemployment where it contributes to higher

levels of poverty. This is due to the fact that skills acquired does not matched with the worked

they have they may be either under or over-qualified with the qualifications, experience, or

expertise beyond the work requirements. When underemployment persists, staff with on-the-job

or training lose the ability to upgrade their skills. They may not be able, without training, to

return to their former field. Many downscale their lifestyle and embrace underemployment over

the long term, and that causes structural unemployment.

 BIT INTERNATIONAL COLLEGE
TAGBILARAN CITY CAMPUS
GRADUATE SCHOOL DEPARTMENT

Masterand: Thea M. Isi-os Professor: Nicetas D. Fudolin, Ph.D., AFP

Course: Master in Public Administration Subject: Seminar in Current Issues and
Topic: Economic Issues in the Philippines National Development

SCHEMATIC DIAGRAM

CORRUPTION DRUG
ADDICTION

UNEMPLOYEMENT MUSLIM
&
UNDEREMPLOYEMEN TERRORISTS
T ECONOMIC ISSUES
IN THE
PHILIPPINES
LACK OF
INFRASTRUCTURE TO SALARIES
SUPPORT ECONOMIC
GROWTH AND WAGES

REGULATIONS &
GOVERNMENT TRAFFIC
LEGISLATIONS CONGESTION