HHH

COVID-19 Pandemic: Employment Rate Dropped

The Covid-19 impacted the Employment rate of our country, leaving many Filipinos jobless. It is also
said to statistics that the employment rate in the Philippines as of March 2021, has lowered, but not
lower than in January 2021. employment contributes to economic growth: Workers produce valuable
goods and services, and in turn receive a wage which they can spend on buying the goods produced.
High employment means a greater number of goods can be produced as well. Let’s say for the Nurse
their works are very tiring & risky and yet their salaries aren’t equal or greater to the services they’ve
rendered, if that’s the case then workers or nurses would rather quit, well some would quit, but others
won’t because this is their only means to survive or feed their children if they have. But not only nurses
are actually heavily-worked this is where the fallacy of composition kicks in, it doesn’t mean that its true
for one individual it would be true for all others. I think Nurses in the Public Sector are over-worked
whilst in Private ones are lesser. Having a higher employment rate is a barometer for the economy’s
overall strength, it can suggest a widening disparity. And in this time, we need to be helping together as
one nation to fight this virus and employing people to the jobs that would best fit their qualifications is a
step towards growth.

The Fallacy of Composition

The Fallacy of Composition applies because not all individuals will happen to all other individuals,
just like for Nurses, we think that they are overly worked right now, but that does not apply to all, well
yes, their work is tiring especially today, but those nurses in the public sectors are more overworked and
low paying, while for the private it’s a different story. This has caused employment rate to dropped
because nurses quit for tiring it is not only does this apply to the nurses, but also to other are jobs, like
the flight attendants, there are some who are unemployed because it is not the usual operation, only a
few airplanes are to travel.

The Fallacy of “Money is Wealth”

I think the Fallacy of money is wealth applies here because money doesn’t define wealth and there is
no short-cut to wealth. Employment Rate dropped because not only were the doors for jobs closed, but
because they are willing to protect their health more, without proper care for our health money would
be nothing.

The Lump of Labor Fallacy

The lump of labor fallacy is the mistaken belief that there is a fixed amount of work available in the
economy, and that increasing the number of workers decreases the amount of work available for
everyone else, or vice-versa. Well, this is a fallacy especially for medical-related jobs which is very in
demand for the situation we are right now. We need a lot of doctors, nurses or health workers and in
reality, if we think about it the demand for labor is not fixed; And higher employment contributes
growth to the economy.