UNEMPLOYMENT WOES

IN THE PHILIPPINES:
WHAT IS TO BE DONE?
 INTRODUCTION

According to Investopedia.com, Unemployment

is a term referring to individuals who are
employable and actively seeking and unable to
find a stable job. This might be because of
several factors but nonetheless, unemployment
is a significant indicator of the current economic
status of a certain country.
 PHILIPPINES AS THE CONTEXT OF UNEMPLOYMENT

The Philippines, in the context of unemployment, is

considerably going to become stable and better, due to a
more downward trend in unemployment rate statistics.
Unemployment rate is defined as the percentage of
members of the labor force that are not employed. Labor
force on the other hand, according to Philippine Statistics
Authority (2023), is the population of 15 years-old Filipinos
and above with the exception of housewives/husbands,
students, people with disabilities (with inability to work), and
retired people.
 PHILIPPINES AS THE CONTEXT OF UNEMPLOYMENT

The Philippines is walking through a lower

2022 gave us a preliminary estimated rate of 5.4%, this
unemployment rate, as Philippine is an indicator that many people are being employed.
Statistics Authority and its Labor Force Last January 2023 gave us an estimated 4.8%
unemployment rate (or 2.37 million Filipinos) which is
Survey (2023) shows that the better compared to January 2022 at 6.4%.
unemployment rates are going lower
from 2020 to January 2023. The 2019 Market Offer

unemployment rate is at 5.1% (total

number of labor force is 100%), it dipped These statistics alone show that even though
unemployment rates are still high and should not be
the lowest in 2020 to 10.3% due to the neglected, it has become better, and should continue
to be better with proper macroeconomic policies.
pandemic taking away jobs. 2021 is when
things started to get stable, and it led to a
2.5% decrease (2021 rate is 7.8%).
 1. Not enough job opportunities
2. Inadequate and lack of
relevant skills
3. Geographic mismatch and
mobility
FACTORS THAT AFFECT
UNEMPLOYMENT
4. Overpopulation
Here are some of the factors that are a 5. Insufficient infrastructure
major contributor to the unemployment in
the country. 6. Slow economic Growth
 RECOMMENDATION

Reducing Occupational Immobility - Laborers' resources are

not progressive due to insufficient skills since having/gaining
sufficient skills can take a lot of time. When the number of
people who lack skills increases, there’s a chance that people
will be unemployed. Since people who are unemployed could
take time to be hired or to find work due to insufficient skills, the
Government is responsible for the betterment of the country.
Government should provide retraining programs for the
unemployed, so they can improve, gain, and discover new skills
to ensure their employment.
 RECOMMENDATION

Employment subsidies - Since then, people are having a hard

time finding a job that fits them well, but there's an answer for
that, like employment subsidies that can be provided by the
government in order to turn unemployed persons into
employed persons. Some companies out there are lacking
workers, and the government should look for a company that
has been experiencing a lack of employment. If a business or
company is hiring, employers are willing to be hired.
 RECOMMENDATION
Reducing Occupational Immobility - Laborers' resources are
not progressive due to insufficient skills since having/gaining
Sustained Economic Growth - This will be another way to
address the unemployment in the Philippines. When there's
economic growth, employers will be more willing and able to
employ more workers. However, this is a long-term idea that will
save jobs.
Amendments in the Constitution - As we all know, there are
economic restrictions embedded in the constitution. If these
restrictions are changed our country will be able to welcome
foreign investors which will create millions of jobs in the country.
 CONCLUSION
The Philippines has a lot of industries which are either flourishing or declining. This
ultimately affects employment and unemployment in the country. There are many
reasons as to why the unemployment situation in the country is fluctuating. But the
most recent event that had a major impact on unemployment was the COVID-19
pandemic.
While the economy now is not in some serious crisis, we need to emphasize the
need for stronger economic reforms and macroeconomic policies to ensure a
steady increase in terms of our GDP as well as to limit the number of unemployed in
the country.
It is important to note that there are so many rising industries which we think should
be given enough attention and maybe subsidies in order for these industries to
really take root.