1

A STUDY ON THE EMPLOYMENT AND EMPLOYMENT PROSPECT FOR

GRADUATES OF ECONOMICS AMONG SELECTED COMPANIES
OPERATING IN THE PHILIPPINE ECONOMIC ZONE AUTHORITY
CAVITE

Undergraduate Thesis
Submitted to the Faculty of
College of Economics, Management, and Developmental Studies
Cavite State University
Indang, Cavite

In partial fulfillment
of the requirements for the degree
Bachelor of Science in Economics

MARGIE LAIGNE G. ALIBAYAN

MA.TERISA R. ESPUERTA
RENETH M. LOTO
DENCENT R. MOJICA
June 2023
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TABLE OF CONTENTS

Page

TITLE PAGE ……………………………………………………………………… i

APPROVAL SHEET ……………………………………………………………... ii

BIOGRAPHICAL DATA ………………………………………………………… iii

ACKNOWLEDGMENT ….……………………………………………………….. vii

ABSTRACT ………………………………………………………………………. ix

INTRODUCTION 1

Statement of the Problem ………………………………………………. 3

Objectives of the study ………………………………………………….. 3

Significance of the Study ……………………………………………….. 4

Time and Place of the Study……. …………………………………….. 5

Scope and Limitation of the Study.……………………………………. 5

Definition of Terms ………………………………………………………. 6

Conceptual Framework of the Study ………………………………….. 8

REVIEW OF RELATED LITERATURE ……………………………………….. 10

METHODOLOGY ………………………………………………………………… 27

Research Design ………………………………………………………… 27

Sources of Data …………………………………………………………. 27

Participants of the Study ……………………………………………….. 27

Sampling Technique …………………………………………………….. 27

Data Gathered …………………………………………………………… 28

RESULTS AND DISCUSSIONS ……………………………………………….. 31

SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS ………………. 50

Summary …………………………………………………………………. 50

Conclusions ………………………………………………………………. 52
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Recommendations ………………………………………………………. 53

REFERENCES …………………………………………………………………… 56

APPENDICES ……………………………………………………………………. 63
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ABSTRACT

ALIBAYAN, MARGIE LAIGNE G., ESPUERTA, MA. TERISA R., LOTO, RENETH
M., MOJICA, DENCENT R. A Study on the Employment and Employment
Prospect for Graduates of Economics among Selected Companies Operating in
Philippine Economic Zone Authority Cavite. Undergraduate Thesis. Bachelor of
Science in Economics. Cavite State University, Indang, Cavite, June 2023. Adviser:
Dr. Marlon A. Mojica.

This study conducted from February to June 2023 examined the employment and

prospects for graduates of Economics in selected companies within the Philippine

Economic Zone Authority Cavite. The research aimed to determine the profiles of

these companies, the job positions and status of Economics degree holders, required

skills, and the companies' willingness to hire Economics graduates. Data from 68

participants were collected using a researcher-designed questionnaire and analyzed

using frequency count, percentage, and mean calculations. The findings revealed

that while most companies lacked employees with Economics degrees, many were

open to considering qualified applicants. Common job positions for Economics

graduates included financial analyst, general manager, recruiter, marketing manager,

operations analyst, and employment manager. The study emphasized the

importance of cognitive, social, individual, technological, and financial skills, with

social skills being particularly valued. Companies showed mixed preferences for

hiring Economics graduates, with some expressing a preference while others favored

candidates from different fields. The study also identified potential future job

opportunities for Economics graduates. Work experience, particularly 1-2 years, was

generally preferred, and a Bachelor's degree held more weight than Latin honors or

the applicant's last school attended in company preferences.

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A STUDY ON THE EMPLOYMENT AND EMPLOYMENT PROSPECT FOR

GRADUATES OF ECONOMICS AMONG SELECTED COMPANIES

OPERATING IN PHILIPPINE ECONOMIC ZONE AUTHORITY

CAVITE

Margie Laigne G. Alibayan

Ma. Terisa R. Espuerta
Reneth M. Loto
Dencent R. Mojica

An undergraduate thesis submitted to the faculty of the Department of

Management, College of Economics, Management and Development Studies,
Cavite State University, Indang, Cavite in partial fulfillment of the requirements for
the degree of Bachelor of Science in Economics with Contribution
number_________. Prepared under the supervision of Dr. Marlon A. Mojica.

INTRODUCTION

Graduates must possess a certain set of competencies in the modern

economy, not just those related to information and abilities gained through a specific

course of study. During their time in college, young individuals lay down the

groundwork for their future jobs. The young are required to demonstrate certain

capabilities in these times of turbulent change in the job market, particularly activity,

flexibility, openness to change, and skills enabling them to adapt to the constantly

changing world (Jakubiak, 2017).

Economics majors are qualified for a range of professions. Although business

roles are the most popular for economics graduates, such as banking, insurance

industry, and consultancy, economics majors are also effective in legal and medical

professions, government and non-profit organizations, international relations, and

academic roles. For these positions, a graduate degree is often necessary (American
 3

Economic Association, 2023). According to CHED Memorandum order no.32 series

of 2017, graduates of the BA/BS Economics program may pursue career paths as

researchers/analysts in the public or corporate sector.

Philippine Economic Zone Authority (PEZA) is attached to the Department of

Trade and Industry, is a government organization entrusted with promoting

investments, providing support, registering, and encouraging investors in export-

oriented manufacturing and service facilities in certain areas of the country

designated by the President as PEZA Special Economic Zones. PEZA manages a

total of 410 economic zones across the Philippines and has registered about 4,643

locators’ companies as of March 2021, PEZA manages a total of 61 economic zones

located in CALABARZON, which hosts 2,022 locator companies and 764 of it is in

Cavite which consists a total of 164,588 employees (PEZA, August 6, 2021).

A bachelor’s degree in economics is sufficient for many entry-level research,

administrative, consulting, and management trainee jobs. However, to work as an

“economist” one generally has to have an advanced degree (University of Arizona,

2023). In addition, an economics degree helps to prepare graduates for careers that

require numerical, analytical, and problem-solving skills that will be useful in business

planning, marketing, research, and management (University of London, n.d).

Therefore, the criteria for choosing a company that will include in this study will be

based on their type of activities and domestically owned companies. Specifically,

manufacturing and logistics will be included in this study as they have a possible job

positions that would be fitted for an economics major, such as administrative staff,

sales staff, financial sales executive, and accounting staff.

This paper aims to determine if among these selected companies operating in

the Philippine Economic Zone Authority Cavite have employed economics graduates.

Specifically, it aims to identify the employment status and present job acquired by the

graduates of economics and if these companies will be the potential employers of

any economics major. This study will be useful because there are not many studies
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about employment and employment prospects for graduates of economics. In

addition, the study aims to point out the gap in previous study on Employability of BA

Economics Graduates: A Tracer Study conducted by Jingle Luna (2022). The study

concluded that the employment of economics graduates is just within government,

bank and service industries. The findings of this study will aid future researchers and

students of the same programs included in it in gaining knowledge and serving as a

foundation for their studies associated with it.

Statement of the Problem

This study evaluated the employment and employment prospects among

selected companies operating in the Philippine Economic Zone Authority Cavite to

determine the extent to which they will be able to hire graduates of economics.

Specifically, the study answered the following questions:

1. What are the profiles of the selected companies operating in the Philippine

Economic Zone Authority Cavite?

2. What is the present job and status of employees who graduate from economics?

3. What are the skills required by the selected companies operating in Philippine

Economic Zone Authority Cavite?

4. Which among the selected companies operating in Philippine Economic Zone

Authority Cavite will be hiring graduates of economics?

Objectives of the Study

Generally, the purpose of this study is to investigate the employment and

employment prospect for graduates of economics among selected companies

operating in PEZA Cavite.

Specifically, the study aimed to:

1. determine the profiles of the selected companies operating in the Philippine

Economic Zone Authority Cavite.

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2. determine the present job and status of employees who graduate from

economics.

3. determine the skills required by the selected companies operating in Philippine

Economic Zone Authority Cavite.

4. determine which among the selected companies operating in Philippine

Economic Zone Authority Cavite will be hiring graduates of economics.

Significance of the Study

The result of this study will provide information regarding the employment and

employment prospect for graduates of economics among the selected companies

operating in PEZA Cavite. This study will benefit the employees,

employers/companies, students, and future researchers. This study is significant for

graduates of economics because the result can give them knowledge about the

things they need if they will apply to the specific industry they want.

The study will provide the employees who graduated in economics to

determine what skills employers need and what skills they have to enhance and add

to their present expertise.

Employers of manufacturing and logistics companies will benefit from this

study because the employer may understand the skills of the employees. Employers

may learn new information that they can put to use when it comes to hiring

economics graduates.

Students who have the same field will also benefit from this study as they will

gain knowledge about the skills and careers that they may obtain from economics.

This study may also help them understand their abilities and develop their career-

related skills.

Future researchers will benefit because it provides a piece of baseline

information about employment and employment prospect for economics graduates.

This study will serve as a reference or guide in doing research.

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Time and Place of the Study

This study covered the employment and employment prospect for graduates

of economics among selected companies operating in the Philippine Economic Zone

Authority Cavite. The data gathering was conducted from February 2023 to June

2023.

Scope and Limitation of the Study

This study focuses on the employment and employment prospect for

graduates of economics among selected companies operating in the Philippine

Economic Zone Authority Cavite. This study focuses only on the profiles of

companies; employment: present job and status of employees; skills required by the

companies; and the prospect of employment for graduates of economics within the

selected companies operating in PEZA Cavite.

The participants are limited only to the selected companies operating in PEZA

Cavite. The criteria for choosing a company that includes in this study are based on

their type of activities and domestically owned companies. Specifically,

manufacturing and logistics services are included in this study as they have possible

job positions that would be fitted for an economics major, such as administrative

staff, sales staff, financial sales executive, and accounting staff.

A stratified random sampling procedure was used for selecting the

participants in this study. This technique was employed to ensure a fairly equal

representation of the participants for the study. The stratification was based on the

location of Economic Zones under the Philippine Economic Zone Authority Cavite.

Within each section, the selection of companies is by simple random sampling.

A proportionate stratified random sampling technique was employed to select

a specific number of companies from each Economic Zones located in Cavite.

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This study used frequency distribution in the presentation of data, particularly

in the job status and job positions of economics graduates held in the selected

companies operating in PEZA. While mean was used to determine the importance of

skills required by the employers.

Definition of Terms

Below are the lists of terms that were used in the study for a better

understanding of the readers.

Cognitive skills. These are the skills employees use at work, including

attention, memory, learning, awareness, and decision-making. In the workplace,

cognitive skills include the ability to understand data, remember team goals, and

focus during meetings.

Casual employee. Refers to an employee who has been hired to perform

work or service which is merely ancillary to the employer’s business and such or

work or service was disclosed to the employee for a specified period at the time of

hiring.

Employment. This refers to the state of having a paid job, being employed,

or hiring others. It is employing graduates of economics among companies operating

in PEZA Cavite.

Employer. These are agencies with which economics graduates work and

the participants of the study, for which necessary data will be gathered to support

and strengthen the study.

Employment prospect. Refers to the possibility of an individual applying for

or being hired for a specific position. The possibility of an economics graduate being

hired in the future.

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Economics graduates. An individual who has the ability and expertise to

contribute specific data to expand and carry out such a study and who has also

completed an economics degree program.

Financial skills. Refers to skills that enable stakeholders to manage and

control financial decisions and problem-solving.

Individual skills. Refers to the skills that allow workers to interact with their

work environment and how employees manage themselves, perform their jobs and

interact with management.

Permanent employee. Refers to someone who is employed by a company

and does not have a fixed termination date.

Probationary employee. This refers to someone who is observed and

evaluated over a period of time to determine their sustainability for permanent

employment.

Skills. Refers to the essential characteristics and abilities of an economics

graduate to their degree of performance in a given activity or their capacity to do their

job well.

Social skills. It refers to the abilities used to communicate, interact, and build

healthy relationships. These skills help employees collaborate successfully with

others, such as colleagues, clients, and others involved in their work.

Technological skills. These are the skills and knowledge required to interact

with computer-based technologies and perform technical tasks.

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Conceptual Framework of the Study

INPUT PROCESS OUTPUT

Company Profile
Name
Type of Business
Get a permit from
Year Established
PEZA Cavite
Number of Present details of
Get a permit from selected companies
Employees who
the selected operating in PEZA
graduated in Cavite
companies
Economics major
operating in PEZA Present job and
status of employees
Cavite
Employment of who graduated in
Conducting actual economics.
Graduates of
interviews with aid
Economics Skills required and
of supporting employment
Present Job prospect for
questionnaire
Status economics graduates
Analysis and
in selected
interpretation of companies operating
Employment Prospect data in PEZA Cavite.
Needs for Presentation of
Economics data
graduates of the
selected
companies
operating in PEZA
Cavite

Figure 1. A Study on the Employment and Employment Prospect for Graduates of

Economics among Selected Companies Operating in PEZA Cavite.

Figure 1 describes the conceptual framework of the study wherein the input is

consisting of the following: Company profile and under this is name, type of business,

year established, and the number of employees who graduated with economics
 10

major; Employment of graduates of economics and under this are present job and

status; and Employment Prospect which includes the needs for economics graduates

of the selected companies operating in PEZA Cavite.

On the other side, the process that was used was getting a permit from PEZA

Cavite and a permit from the selected companies, conducting actual interviews with

aid of a supporting questionnaire, analysis, interpretation of data, and presentation of

data. The output is the employment and employment prospect for graduates of

economics among selected companies operating in PEZA Cavite.

The researchers want to find out the profiles of the selected companies

operating in PEZA Cavite; present job and status of employees who graduated in

economics; the skills required by the selected companies operating in PEZA Cavite;

and if these companies will be the potential employers of any economics program.

Altogether, the output was the present details of selected companies operating in

PEZA, employment, and employment prospect for graduates of Economics among

selected companies operating in PEZA Cavite.

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REVIEW OF RELATED LITERATURE

This chapter presents some related literature and studies in every part of the

world after the thorough research done by the researchers. The studies were

obtained from books, journal articles, and online sources. Those that are included in

this chapter help with familiarizing information that is relevant and related to the

research study under consideration.

Employment of Economics Graduates

According to Usman (2016), nowadays, learning should be about more than

just books. Education should be outcome-based, with an emphasis on helping

students acquire the knowledge, skills, and values that will help them become

productive members of society who can facilitate the country’s economic and social

development. In this time of globalization, higher education has focused on the

development of the whole person as well as the knowledge, traits, and skills that any

educated person should have by the time they graduate. In addition, it seeks to

motivate and equip individuals to develop their abilities to their fullest potential

throughout their lives so that they grow intellectually, contribute successfully to

society, experience personal fulfillment, and are well-prepared for work (Abas., et al.

2016).

According to CHED Memorandum order no.32 series of 2017, graduates of the

BA/BS Economics program may pursue career paths as researchers/analysts in the

public or corporate sector.

According to the University of Canterbury (n.d.), Economics graduates can

find employment in various sectors of the public and private sectors. Professional

economists are engaged in a variety of organizations ranging from brokerage firms to

marketing firms to perform economic research and provide economic advice. The

graduates of the University of Canterbury have been employed in government,

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banking and finance, audit, tax and advisory services, construction, agribusiness,

telecommunication, information technology, and insurance. According to Luna

(2022), regarding the employment profile of BA Economics graduates, it can be

concluded that BA Economics students at Surigao del Sur State University are

competitive job seekers. 64.3 percent of the population is now employed. Luna

suggests that BA Economics graduates can compete with graduates of other

universities and programs for employees as they possess qualities of an employee

that can meet the standard of the employer which help them to be accommodated in

different mode of employment. In addition, BA Economics graduates can find

employment in a variety of settings, including the government, banks, and service

industries. The research study was conducted in order to evaluate the employability

of the graduates of the Bachelor of Arts in Economics of Surigao del Sur State

University from 2011-2016.

The transition from graduation to employment has attracted the attention of

several individuals, higher education institutions, businesses, governments, and

other employment agencies as it might stimulate the curricular debate and could also

be very interesting for their current or later students (Kultur, K., et al. 2022). Thus, the

employment status of graduates is an important indicator of the effectiveness of

academic and training programs.

Employment Prospect for Economics Graduates

According to Auckland University of Technology (2019), Economics offers

important insights into how human behavior and choices impact the world. As a

result, it is both a social science and business study. If you are interested in people,

organizations, and global issues, economics provides a variety of satisfying career

path options, whether you are driven to start your firm or work as a social

entrepreneur, or want to work in the private, public, or NGO sectors.

 13

Job opportunities for economics majors should be best in manufacturing,

financial services, advertising, and consulting firms. The complexity of modern

national and international markets will continue to spur demand for those skilled in

quantitative analysis. Economics majors with bachelor’s degrees will face strong

competition in securing jobs in the business industry. Some may find positions as

management or sales trainees or as research or administrative assistants

(Encyclopedia, 2019).

Economics majors working in the private sector are often tasked with helping

business leaders and owners understand the economic impact on their businesses.

They may be asked to analyze future consumer needs so that the company can plan

the most efficient use of its resources (American University, n.d).

Like other liberal arts majors, economics is meant to give students a

foundation in those subjects. Students can gain broad insights into how the economy

functions with an economics major (Colander, 2016). As the study of economics has

developed, its concepts have been applied across a wide range of disciplines,

including mathematics, business management, financial management, and data

analytics, among many others (Times Higher Education, 2019). This contributes to

the vast range of careers that somebody with a major in economics can pursue and

succeed in (Conerly, 2015). It has also resulted in the broad skill sets of economics

participants, which are transferable to professions even beyond the field of

economics. This indicates that there are several career prospects available to

economics majors (Tucker, 2019).

An economics major does not always work as an economist, however, the skills

that may acquire in taking an economics program, such as critical and analytical

thinking, problem-solving, and research skills are highly sought after by most

employers (National University, n.d). Entry-level positions for economics majors with

a bachelor’s degree include market analysts, research assistants for administrative or

management positions, and various sales jobs. While master’s and Ph.D. degrees
 14

prepare economics majors for jobs requiring more quantitative and analytical skills

(Ohio University, 2023).

According to University of Manitoba (2012), the sample job postings for

economics graduates are financial or investment analysts, financial planner, loans

officer, market analyst, sales representative and data analyst.

1) As a financial analyst, all matters involving financial assets are dealt with by

financial analysts. They examine businesses, markets, investments, securities like

stocks and bonds, and money. Before recommending solutions to clients or the

businesses they work for, they conduct research and analysis (Profita, 2020).

Accountant financial analysts handle any issue affecting financial assets.

Businesses, markets, financial instruments including stocks and bonds, investments,

and business ventures are all examined. They carry out research and analysis before

making recommendations to clients or the companies they represent (Profita, 2020).

2) As a financial planner, are also referred to as personal financial advisors,

who provide financial advice for their clients. They provide assistance with tax,

insurance, and investment decisions. Financial planners typically meet with clients to

discuss their financial goals, describe the types of financial services they offer to

potential clients, inform clients about the various investment options and associated

risks, and recommend investment decisions on their behalf (University of Illinois, n.d).

3) Financial managers are in charge of an organization’s financial stability.

They create financial reports, oversee investment activities, and create plans and

strategies for the organization’s long-term financial objectives (Weber State

University, 2023).

4) As a loans officer, they use a process called underwriting to assess whether

applicants qualify for loans. After collecting and verifying all the required financial

documents, the loan officer evaluates the information they obtain to determine the

applicant’s need for a loan and ability to pay back the loan. After the underwriting

software produces a recommendation, loan officers review the output of the software
 15

and consider any additional information to make a final decision (Weber State

University, 2023).

5) As market research analysts, they study the market to look for possible

sales of goods and services. They aid businesses in figuring out who will buy certain

things and at what price (Weber State University, 2023).

6) As a sales representative, they offer products for wholesalers or

manufacturers to businesses, government agencies, and other organizations. They

contact customers, explain the features of the products they are selling, negotiate

prices, and answer any questions that their customer may have about the products

(U.S. Bureau of Labor Statistics, n.d).

7) As a data analyst, they utilize econometrics to analyze data to support

business decision-making. Forecast market variables for a business (Auckland

University of Technology, 2019).

In addition, an economics degree is flexible; there are various possible job

titles for economics majors, such as marketing managers, sales managers, market

research analyst, recruiter and employment manager (Hofstra University, n.d).

1) As sales managers, they direct the firm’s sales program. They assign sales

territories, set goals, and establish training programs for the sales representatives.

Managers advise the sales representatives on ways to improve their sales

performance. In large multi-product firms, they oversee regional and local sales

managers and their staff. Sales managers maintain contact with dealers and

distributors. They analyze sales statistics gathered by their staff to determine sales

potential and inventory requirements and monitor the preferences of customers

(University of Virginia, n.d).

2) As marketing managers, they monitor trends that indicate the need for a

new product or service. Then they assist in the development of those products or

services and to create a marketing plan for it (U.S. Bureau of Labor Statistics, n.d).
 16

3) As a recruiter, they are professional in charge of identifying potential

employees for the company where they work. They can also help prospective

employees negotiate and even follow up after they are hired to ensure everything is

going well (Hofstra University, n.d).

4) As an employment manager, they are responsible for the entire hiring

process, embodying the values of the business throughout and supporting inclusive

hiring processes. They will help examine, implement, and improve the company’s

recruitment processes (Maynard, M. 2022).

Furthermore, economics degrees are exceptionally well-rounded and

adaptable, which allows graduates to pursue incredibly interesting careers in a wide

range of industries. According to Daniels, M.E, Jr. (2023), 25 percent of the

economics graduates from Purdue University go directly to graduate school after

graduation while the 75 percent economics graduates go directly to the work force

after graduation. The most popular occupations for Purdue economics graduates are;

financial analyst, market research analyst, management consultant, logistics

managers, operations analyst, general manager and policy analyst.

1) As a management consultant, the job involves a great deal of planning and

strategy-making. A project's planning and execution will be assisted by this

professional's analysis of businesses and operations. In addition to this,

management consultants can offer advice on how to improve operational efficiency

and the effectiveness of ongoing projects (McKay, 2020).

2) For policy analysts, political science-trained economists are encouraged to

choose this career. Analysis of policies, rules, and regulations is done by policy

analysts who may also improve or implement them. They frequently collaborate with

governmental organizations or local governing bodies, and the laws and ordinances

that politicians pass are based on the research and conclusions they produce

(Profita, 2020).
 17

3) For logistics managers, they organize the storage and distribution of goods.

They ensure that the right products are delivered to the right location on time and at a

good cost. Understanding the whole supply chain is important so that they can

coordinate it effectively (Daniels, M.E, Jr. 2023).

4) For the general manager, they are responsible for overseeing the entire

business operation. They are also responsible to ensure strategic goals are met by

setting operational policies, creating and maintaining budgets, managing employees,

and more (Belfor, 2017).

5) For operations analysts, they create and use mathematical models and other

optimization techniques to develop and interpret information that assists

management with decision-making, policy creation or other managerial tasks. May

collect and analyze data and develop decision support software, service, or products.

May design and provide the best logical, financial, or timeframe networks for a

certain program’s implementation or review (Daniels, M.E, Jr. 2023).

Skills

Skills refer to an individual's level of achievement in a particular activity or

their ability to perform a task well. It can be broken down into technical elements and

behavioral elements (Noe, Hollenbeck & Gerhart, 2015). It is widely believed that

having the right skills is essential to increase productivity, foster innovation, and

generate new job opportunities. In life, people learn new skills. People develop their

skills through a variety of interactions and processes, such as those that take place

at home and in the community, in the early years of school, at work, and during

training (Hentschel, 2017).

According to Findlay (2019), skills are important, and not just for those who

possess them. However, the value of skills goes far beyond that, affecting social

mobility, health and well-being, and social and community life. Skills are essential to

support the work and employment and economic prosperity of individuals. As

 18

countless conferences and talent management programs show, employers also have

a vested interest in talent, including how it is developed, how it is attracted, and,

arguably most importantly, how it is used. According to Green (2011), workers' skills

are valuable to capital, and play an important role in the extent to which national

education and skills systems are supported by public policies and investments, and

the extent to which workers can access, improve and maintain their skills. Moreover,

skills serve a critical societal purpose, laying the foundation for success in the

broadest sense for families, communities, and the public sector.

Some general skills are industry-specific, while others are virtually universally

useful to employees. Whether working in a general hiring role or as an executive,

regardless of the job or industry an employee works for, general skills always provide

value (Tuononen et al., 2022). There are 5 classes of general skills. First, regardless

of the type of work, communication is always important. The ability to effectively

share information with colleagues and managers ensures that everyone has the

information they need, and the ability to search for information helps retain it. Overall,

strong oral and written communication skills are essential in any work environment,

along with the ability to pick up on non-verbal cues and demonstrate social

awareness in conversation (Smith & Carnevale, 2013). Second, there is teamwork,

where most workplaces work as large teams tasked with achieving business growth

goals. Teamwork and collaboration skills are valuable to all employers, regardless of

industry. The ability to work effectively with others facilitates the achievement of team

goals, increases overall productivity, and helps ensure business success. As a result,

an organization's ability to shift priorities, track progress, or quickly find important

tools or documents can have a significant impact on the overall productivity, and

many companies see an organization's skills as an asset. The fourth is problem-

solving, which is the employee's ability to address problems at the lowest level by

assessing the situation and developing a possible course of action that will make all
 19

the difference in a crisis. The last one is punctuality and being on time can have a

huge impact and help the company (Mcdonald, 2018).

On the other hand, a study by Deming and Khan (2018) on employer demand

for specific job skills found that higher-paying labor markets and firms demand higher

levels of cognitive and social skills from employees. Based on their study, more

productive firms, measured by log income per worker and regardless of whether the

firm is publicly traded, have a higher demand for cognitive and social skills, even

after controlling for a detailed set of job characteristics such as industry and

occupation in the USA. This also shows that, in particular, demands for cognitive and

social skills explain five percent residual fluctuations in wages and between two and

nine percent of fluctuations in firm productivity.

In a study by Deming and Kahn (2017), it was described how keywords and

phrases classified in the Burning Glass data were useful for descriptions used in

experts' studies. In their study, they used ten thousand unique domains and created

ten categories of professions useful for different tasks. The first two skills are

cognitive and social, and cognitive skills are described as problem-solving, research,

mathematics, statistics, and critical and analytical thinking. These keywords and

steps are used to match the descriptions of non-routine analytical tasks used by

Autor, Levy, and Murnane (2003) and other related works. The groups of keywords

such as communication, teamwork, negotiation, presentation, and collaboration are

among the social skills as defined by Deming (2015). The study classifies eight

additional skill groups and shows that they are important in explaining wage

differences between labor markets and productivity differences between firms. The

third skill, "character," is an umbrella term for keywords and phrases such as

organization, detail-oriented, and time management. The study drew on the large

literature on non-cognitive or soft skills, where the labor market discusses individual

or personality traits such as conscientiousness and agreeableness, as well as

personality traits such as self-control and positive affect (e.g., Heckman and Klautz
 20

2012). The criteria for the seven job skills are broadly listed and generally apply to a

wide range of jobs. Writing, customer service, sales, and project management are

among Burning Glass' top fifteen careers for 2014. Deming and Kahn also created

categories of human resource management and finance in various pieces of

literature. People management includes supervision, leadership, management,

mentoring, and human resources. Accounting, finance, and cost were included in the

preparation of the financial. The Burning Glass data is categorized as general and

specific technological or computer skills, such as software use and ICT skills.

Skills of Economics Graduates

Skill is used to narrowly refer to whether someone can perform a specific set

of tasks. In economics, any extensible quality that makes an employee more

productive can be considered a skill. In neoclassical economics, skill is one of the

main ingredients of "human capital", the other being health. On the other hand, skill is

also sometimes used in professional and common parlance in the narrower sense of

being able to do something, often referring to skilled occupations (Green, 2013).

According to Conerly (2015), an economist, there are real skills that

economics graduates need to improve to find a job. The skills an economist needs

are data and statistics manipulation, understanding and finding relationships..

Additionally, an economist should be aware of factors that can lead to increased

sales or costs. Getting to know new products, industries, regions, and business

models is a skill that an economist must also possess. A good economist can also

become familiar with new areas. In addition, an economist must be able to

communicate and complicated things must be explained clearly orally and in writing.

An economist must be extremely perceptive and have a deep understanding

of complex economic and mathematical concepts. They are often asked to think

quickly and make informed decisions and recommendations based on data. To

succeed in a career as an economist, economics graduates need to improve their

 21

strong research skills, oral and written communication skills, and critical thinking skills

(Neuman, 2014). According to Naroş (2018), the lack of mismatch between the skills

of recent graduates and those of employers' higher requirements appears to be a

problem for developed countries. Her research has shown that managers strive to

develop and improve some of the skills of an economist. Digital skills, creativity,

adaptability to crises, the ability to analyze and synthesize information, teamwork,

and language skills are the skills that an economist should develop. The correct

application of employee skills increases the satisfaction of company executives.

According to Dosunmu (2022), economists should have the ability to

combine an analytical approach with an understanding of how the economy works

with the rest of the world. Economists operate in an open atmosphere that crosses

multiple fields of knowledge and must be open to new ideas, solutions, and points of

view that take into account numerous issues and opinions. According to the Bureau

of Labor Statistics (2023), analytical skills, critical thinking skills, communication

skills, research skills, and management skills are important qualities an economist

should possess. In analytical skills, an economist must be able to review data in

detail, observe, perform advanced calculations, and draw logical conclusions.

Economists must be able to think critically to use logic and reasoning to solve

complex problems. You must also have excellent written and verbal communication

skills to convey complex ideas to people with varying levels of business expertise.

Economists often have to present and explain reports to clients who may not have a

background in economics. Research skills should also be present in extracting and

analyzing relevant data using a range of statistical software packages. Also,

management skills are required, an economist can be appointed to lead a team or

department and this requires an understanding of management procedures. It is also

important to have the ability to work in a team and to establish productive working

relationships.
 22

Philippine Economic Zone Authority (PEZA)

Special Economic Zones (SEZs) are physically defined areas in which

governments encourage industrial activity through fiscal and regulatory incentives

and infrastructure assistance that are widely utilized in the majority of developing and

developed countries (World Investment Report, 2019). The policy goals might include

everything from facilitating export diversification and economic improvement to

generating employment, raising household incomes, and boosting economic activity

in developing areas within a country. The Special Economic Zone program aims to

attract foreign direct investment (FDI) to raise firm-level investment and boost firm-

level productivity by improving firm-level coordination, networks, and innovation (The

World Bank Group, 2017). Many Asian countries are incorporating Special Economic

Zones (SEZ) into their plans for economic growth. Special Economic Zone comes in

a variety of forms, such as export processing zones, industrial parks, eco-industrial

parks, technological parks, and innovation districts that aim to attract investors,

create jobs, and increase export earnings. In Vietnam, Special Economic Zones

(SEZ) play a crucial part in the government’s FDI promotion strategy. Currently, there

are 295 industrial parks, three technology parks, and 15 economic zones, which

concentrate over fifty percent of total FDI and eighty percent of manufacturing FDI.

Also, contributes 40 percent of GDP, 45 percent of export value, and employs about

2.5 percent of the workforce. Special Economic Zones (SEZ) are also well developed

in Indonesia which employ approximately 2.5 percent of the workforce, which is

rather high compared to Thailand with only 1.1 percent (ASEAN, 2020).

Economic zones were established in the Philippines in the late 1960s as part

of an export-oriented development strategy. In 1972, the first export processing zone

was established which is the Bataan Export Processing Zone (BEPZ), and four more

economic zones were established in the years that followed: Baguio City Export

Processing Zone (BCEPZ), Mactan Export Processing Zone (MEPZ), and Cavite

Export Processing Zone (CEPZ) in 1979 and 1986, respectively. From the 1970s to
 23

the early 1990s, the central government constructed and administered economic

zones. Through the Special Economic Zones Act of 1995, the private sector gained

access to the development and operation of economic zones 1995 (Dumayas, A.

2018). Philippine Economic Zone Authority (PEZA) is a government agency, attached

to the Department of Trade and Industry (DTI) that was established under Republic

Act No. 7916, otherwise known as the Special Economic Zones Act of 1995. The

policy was created to provide the legal administration and coordination of special

economic zones in the Philippines (LAWPHiL, 2023).

To meet the needs of foreign investors looking for ready-to-occupy spaces

across the country, Philippine Economic Zone Authority (PEZA) is entrusted with

creating economic zones that are both environmentally sustainable and of the

highest international standards. It encourages the development of investment,

commercial, banking, and financial centers, in addition to tourism and recreational

complexes, as well as industrial estates, export processing zones, and free-trade

zones for agro-industrial and industrial enterprises. Another responsibility of the

agency is to promote investments in export-oriented manufacturing service facilities

inside designated areas across the country declared by the President of the

Philippines as PEZA Special Economic Zones. The program’s goal is to encourage

the development of export manufacturing facilities and regional warehousing in

world-class, environmentally friendly economic zones, thereby increasing

employment and other economic opportunities, especially in rural areas, and

boosting export growth and diversification (Commission on Audit, 2019).

An ecozone-registered entity in the Philippines refers to any individual, firm

association, partnership, corporation, or other commercial organization registered

with the Philippine Economic Zone Authority as such based on its eligibility. In simple

terms, the ecozone-registered enterprise in the Philippines is the PEZA-registered

entity - by activity and by location.

 24

As detailed on the PEZA website, the following type of business activities are

eligible:

1.) Export Manufacturing - manufacturing, assembly, or processing activity

resulting in the exportation of at least 70 percent of production. Manufacturing or

Processing shall mean the process by which raw materials or semi-finished materials

are converted into a new product through a change in their physical, mechanical or

electro-magnetic characteristics and/or chemical properties.

2.) Information Technology (IT) - IT service activities, of which 70 percent of

total revenues are derived from clients abroad. These are the activities that involve

the use of any IT software and/or system for value addition.

3.) Tourism - Establishment and operation within PEZA Tourism Special

Economic Zones of sports and recreation centers, accommodation, convention, and

cultural facilities and their special interest attraction activities.

4.) Medical Tourism - medical health services, endorsed by the Department of

Health, with foreign patients as primary clientele. Eligible firms shall qualify for

registration as “medical tourism enterprises” in a medical tourism special economic

zone park or center.

5.) Agro-industrial Export Manufacturing - processing and/or manufacturing of

agricultural products resulting in the exportation of its production. Processing shall

mean the conversion of any agricultural and marine products from their raw state into

intermediate or final products that undergo physical and/or chemical processes.

6.) Agro-industrial Bio-fuel Manufacturing - specialized manufacturing of crops

and eventual commercial processing which shall result in the production of clean

energy such as bio-fuels and the like.

7.) Logistics and Warehousing - operation of a warehouse facility for the

storage, deposit, and safekeeping of goods for PEZA-registered economic zone

export manufacturing enterprise, and/or importation or local sourcing of raw

materials. Semi-finished goods for resale to - or for packing/covering including

 25

marking/labeling, cutting or altering to customer’s specification, mounting and/or

packaging into kits or marketable lots for subsequent sale to PEZA-registered export

manufacturing enterprises for use in their export manufacturing activities, or direct

export, or consignment to PEZA-registered export manufacturing enterprise and

eventual export.

8.) Economic zone Development and Operation - development, and

maintenance of an economic zone for export manufacturing enterprises, inclusive of

the required infrastructure, facilities, and utilities such as light and power system,

water supply and distribution system, sewerage, and drainage system, pollution

control devices, communication facilities, paved road network, administration

building.

9.) Facilities Provider - construction as owner /operator of factory buildings

inside a PEZA Special Economic Zone for lease to PEZA-registered Export

Manufacturing Enterprises. Eligible firms shall qualify for registration as an

“Economic Zone Facilities Enterprise.”

10.) Utilities - establishment, operation, and maintenance of light and power

systems, water supply, and distribution systems inside special economic zones.

In the Philippines, there are a total number of 76 manufacturing economic

zones, 297 information technology, parks or centers, 17 tourism export enterprises,

22 agro-industrial economic zones, and 13 medical tourism parks or centers with an

overall 415 economic zones across industries as of December 17, 2022 (PEZA,

2022).

According to the Philippine Economic Zone Authority, from January to March

2022, the amount of permitted economic zone investments was Php 8.141 billion.

These investments came from 29 new and expansion projects with projected annual

export sales of US dollar 232.454 million and expected job generation of 3,168 direct

employment. In addition, compared to the same period in 2021, export revenue and
 26

employment increased in the first quarter of 2022 by 10.93 percent and 13.72

percent respectively (PEZA, 2022).

There are only 61 economic zones in CALABARZON under PEZA as of

March 2021, with 2,022 locator companies operating. Laguna has the most locator

firms, with 865, followed by Cavite with 764, Batangas with 386, Rizal with six, and

Quezon with one. In terms of employment, Laguna has the most number of

employees with a total of 200,009 in 2020. While, Cavite consists of a total of

164,588 employees (PEZA, 2021).

Synthesis

The above collection of related literature and studies started with identifying

the employment of economics graduates, followed by the employment prospects. It

provides information on which industry most economics graduates are employed in

and what careers await them after graduation. Most of the studies conducted have

focused on the general development of an individual that any educated person

should have by the time they graduate, which seeks to motivate and equip individuals

to develop their abilities to their fullest potential throughout their lives so that they

grow intellectually, contribute successfully to society, experience personal fulfillment,

and are well-prepared for work (Abas et al. 2016). Because of that, the researchers

came up with the study and chose domestically owned companies. Specifically,

manufacturing and logistics, to find out if the selected companies operating in the

Philippine Economic Zone Authority (Cavite) have employed economics graduates

and if these companies will be the potential employers of any economics program.

Furthermore, different pieces of literature from books, journal articles, and online

sources were presented and used as a foundation for the study.

The skills and types required for an employee were also discussed, along

with information about the Philippine Economic Zone Authority. Dosunmu (2022)

asserts that economists should be able to integrate an analytical mindset with

 27

knowledge of how the global economy functions. A successful economist should

have strong analytical, critical-thinking, communication, research, and management

abilities, according to the Bureau of Labor Statistics (2023). An economist needs to

have strong analytical abilities to carefully examine data, observe, carry out complex

computations, and come to reasonable conclusions. Additionally, the presented

literature and studies are significant for assessing the concept itself and

understanding employment and employment prospects, which will be the basis for

analyzing the data to be gathered.

Previous studies on the employability of BA Economics graduates: A tracer

study conducted at Surigao del Sur State University, in this study, it was concluded

that BA Economics graduates can compete with graduates of other universities and

programs for employees, as they possess qualities of an employee that can meet the

standard of the employer and help them adapt to different modes of employment.

Employment of economics graduates is just within government, banking, and service

industries, as stated by Luna (2002).To address the gap, this study aimed to identify

the employment status and present job acquired by the graduates of economics and

determine if these companies will be the potential employers of any economics

major, particularly those operating in the Philippine Economic Zone Authority in

Cavite.

In conclusion, the majority of studies on the whereabouts of economics

majors solely pay attention to employable abilities. This study aims to ascertain the

employment possibilities for economics graduates in addition to identifying

employment. This study will look at whether there is a demand for economics majors

outside of the financial sector, where they are frequently employed.

 28

METHODOLOGY

This chapter describes the methods employed in this study’s research and

provides an overview of them. The research design is the first thing to be taken into

account, then the sources of data, participants of the study, sampling technique, and

data to be gathered are all covered.

Research Design

This study used a descriptive research design to describe the employment and

employment prospects for graduates of economics among selected companies

operating in the Philippine Economic Zone Authority Cavite. The purpose of a

descriptive design is to explain, characterize, and understand the current situation. It

is focused on the actual circumstances, the beliefs that are held, and the processes

that are still in motion.

Sources of Data

In this study, necessary data was gathered, and primary data was used

because it will help support and strengthen the study. Face-to-face interviews and

supporting questionnaires were used as the primary sources of data to describe the

employment and employment prospect for graduates of economics in PEZA Cavite.

Participants of the Study

The participants in this study were the employers among the selected

companies operating in Philippine Economic Zone Authority Cavite. Specifically, the

employers of manufacturing and logistics were the participants of this study.

Sampling Technique

A stratified random sampling procedure was used for selecting the

participants in this study. This technique was employed to ensure a fairly equal

representation of the participants for the study. The stratification was based on the
 29

location of Economic Zones under the Philippine Economic Zone Authority Cavite.

Within each section, the selection of companies will be by simple random sampling.

A proportionate stratified random sampling technique was employed to select

a specific number of companies from each Economic Zones located in Cavite.

In this study, the accessible population compromised the employers among

selected companies operating in PEZA Cavite with a total population of 107 and a

sample size of 84.The sample size was able to determine using the Raosoft sample

size calculator with a margin error of 5 percent and a confidence level of 95 percent.

Table 1. Sample size of the population

ECONOMIC ZONES IN Number of companies Sample size
CAVITE
Cavite Economic Zone 52 41

First Cavite Industrial 19 15

Estate
Gateway Business Park 3 2
SEZ
Golden Mile Busine ss 10 8
Park
Suntrust Ecotown Tanza 5 4

Golden Gate Business 2 2

Park-Cavite Export
Processing Zone
Daichii Industrial Park 6 4

People's Technology 10 8
Complex
TOTAL 107 84

Data to be gathered

A permit from Philippine Economic Zone Authority would be the first to

consider before getting a permit from the employers among selected companies

operating in PEZA Cavite, it will be obtained before the data collection. The data

were gathered through actual interviews with the employers with the aid of the

prepared questionnaire. The information that gathered includes the profiles of the

companies, employment, present job and status, and the employment prospect for

graduates of economics.
 30

The instruments that were used in this study were adopted and self-

administered questionnaires that have four parts. Part I of the questionnaire is about

the profiles of the selected companies operating in PEZA Cavite. The questions in

this part is to find out the participants and basic information about the company, such

as address, year of establishment and type of business. Part II of the questionnaire

will be used to find the information about the employment of economics graduates

within the selected companies operating in PEZA Cavite. Specifically, the questions

seek to find out the present job and status of economics graduates. Part III of the

questionnaire will be used to find the information about the skills required by the

employers of selected companies operating in PEZA Cavite. The participant will be

asked to rate the perceived level of importance of skills. The items used a four-point

Likert type scale to measure a participant’s degree of agreement and disagreement

with the skill provided. The used numerical ratings range from 1 to 4, with 1”Very

unimportant” and followed by 2 “Unimportant” being the lowest perceived level, it

means that skill provided is not required by the employers. 3 “Important” means that

the skills provided are necessary for the graduates to have, and 4 “Very important”

being the highest, it means that the skills are highly important for a graduate to

possess. Part IV of the questionnaire will be used to find out which among the

selected companies operating in PEZA Cavite will be hiring economics graduates.

Specifically, the questions will be the basis to determine if there will be employment

prospect for economics graduates.

 31

Table 2. Mean range, verbal interpretation and qualitative interpretation of the

required skills by the selected companies
MEAN RANGE VERBAL QUALITATIVE
INTERPRETATION INTERPRETATION
1.00-1.74 Very low The skill is not considered
a major requirement of
employers

1.75-2.49 Low The skill is not an

important requirement of
employers

2.50-3.24 High The skill is an important

requirement of employers

3.25-4.00 Very high The skill is extremely

important requirement of
employers

Table 2 shows the mean range, verbal interpretation and qualitative

interpretation of the data to be gathered to determine the skills required by the

employers in selected companies in PEZA

 32

RESULTS AND DISCUSSION

This chapter presents the findings of this study which were analyzed and

interpreted accordingly. This section deals with the discussion of the following: profile

of the company; employment of economics graduates among selected companies

operating in Philippine Economic Zone Authority Cavite; skills required by the

selected companies; and employment prospects for graduates of economics among

selected companies operating in Philippine Economic Zone Authority Cavite.

Table 3. Profile of the Selected Companies Operating in Philippine Economic

Zone Authority Cavite

Table 3.1 Profile of the Selected Companies Operating in Philippine Economic

Zone Authority Cavite According to nature of business
 33

PROFILE FREQUENCY PERCENTAGE

Nature of Business

Manufacturing 71 84.52
Logistics and warehousing 8 9.52
Manufacturing, Logistics, and 5 5.95
warehousing
TOTAL 84 100

It shows that most businesses are in the manufacturing industry, accounting

for seventy-one or 84.52 percent of the total results. The manufacturing industry

plays a crucial role in economic development, job creation, and technological

advancement. It encompasses various sectors such as automotive, electronics,

textiles, food and beverages, pharmaceuticals, and more (Gereffi et al., 2015). As a

result, more entrepreneurs are venturing into this industry. Moreover, numerous

studies have examined the factors contributing to the competitiveness of the

manufacturing industry. These factors include technological innovation, research and

development (R&D) investments, a skilled workforce, access to capital, infrastructure

development, favorable government policies, supply chain management, and the

ability to adapt to changing market conditions (Porter, 1990; Shamsuddoha et al.,

2020). However, this does not mean that it is easier to handle. The manufacturing

industry is increasingly focusing on sustainable practices, including resource

conservation, waste reduction, energy efficiency, clean technologies, and adherence

to environmental regulations (Sarkis et al., 2011). Sustainable manufacturing

practices contribute to cost savings, reputation enhancement, and environmental

stewardship. Additionally, globalization has significantly impacted the manufacturing

industry, with companies seeking cost advantages and market opportunities

worldwide. This necessitates a skilled workforce equipped with technical knowledge

and competencies (Lee et al., 2014). Research has explored strategies for workforce

development, including vocational training programs, collaboration between industry

 34

and educational institutions, lifelong learning initiatives, and the promotion of STEM

education (Zhou et al., 2018).

On the other hand, eight or 9.52 percent of businesses are in the logistics and

warehousing industry. Logistics involves the management and coordination of the

flow of goods, information, and resources between the point of origin and the point of

consumption to efficiently meet customer requirements (Council of Supply Chain

Management Professionals, 2017). Warehousing, on the other hand, refers to the

storage and management of goods within a facility. Logistics and warehousing play a

vital role in supply chain management by ensuring the efficient movement, storage,

and distribution of goods. They facilitate the smooth flow of goods from suppliers to

manufacturers, distributors, retailers, and ultimately to end customers. Effective

logistics and warehousing operations contribute to reduced lead times, improved

customer service, cost savings, and increased operational efficiency (Cohen et al.,

2019). These activities include receiving, storage, inventory management, order

picking, packing, and shipping. Efficient warehouse management practices, including

layout optimization, inventory control, process automation, and technology adoption,

enhance productivity, accuracy, and customer satisfaction (Benton et al., 2018).

Additionally, five or 5.95 percent of companies are involved in both manufacturing

and logistics and warehousing businesses. Logistics and warehousing play a critical

role in the manufacturing industry by ensuring the timely and efficient movement of

raw materials, components, and finished goods. This involves activities such as

transportation, inventory management, and order fulfillment (Lambert et al., 2016).

Warehousing provides storage and distribution facilities for raw materials, work-in-

progress (WIP), and finished goods. Effective warehousing practices, including

inventory control, space utilization, and order picking, contribute to improved

efficiency and customer service (Benton et al., 2018). The integration of

manufacturing, logistics, and warehousing functions is crucial for achieving

operational excellence. Seamless coordination between these areas enhances

 35

supply chain responsiveness, reduces lead times, and optimizes inventory

management (Christopher, 2016).

Table 3.2 Profile of the Selected Companies Operating in Philippine Economic

Zone Authority Cavite According to location of the business

PROFILE FREQUENCY PERCENTAGE

Location

Rosario 42 50
Dasmarinas 18 21.43
Carmona 15 17.86
General Trias 3 3.57
Silang 4 4.76
Tanza 2 2.38
TOTAL 84 100

As a result, forty-two or 50 percent of the businesses are located in Rosario, Cavite,

according to the Department of Labor and Employment (2021). Rosario, Cavite is

renowned for its industrial and manufacturing sector, with several industrial parks and

factories situated in the area. These industries offer employment opportunities to the

local population and contribute to the local economy. This is attributed to industry

clusters. The concept of industry clusters suggests that businesses in the same

industry tend to locate in close proximity to benefit from knowledge spillovers, access

to suppliers, and a skilled labor pool (Porter, 1998). Consequently, regions with

established industry clusters often experience a positive employment status due to

the concentration of businesses and resulting job creation (Boschma & Frenken,

2010).

On the other hand, Dasmarinas Cavite, with 21.43% of businesses, boasts a diverse

economy and provides various employment opportunities. The city is recognized for

its thriving industrial and commercial sectors, as well as its educational institutions.

Dasmariñas, Cavite is home to industrial parks, manufacturing companies, business

process outsourcing (BPO) firms, and retail establishments. These industries

 36

contribute to job creation and provide employment across different sectors, including

manufacturing, services, information technology, and retail. The city is also known for

its numerous educational institutions, including universities and colleges. These

educational institutions not only provide quality education but also create

employment opportunities for teachers, administrators, and support staff.

Carmona, Cavite, a municipality in the Philippines, has experienced significant

industrial and economic growth in recent years. The town is renowned for its thriving

industrial parks and manufacturing industries, which contribute to job creation and

employment opportunities for the local population. Fifteen or 17.86 percent of the

businesses are located in Carmona, Cavite. Carmona, Cavite is home to various

industries such as automotive, electronics, food processing, and garments, among

others. These industries provide employment across different sectors, including

production, logistics, administration, and technical roles. The other location of PEZA

has four or 4.76 percent of the businesses (Silang Cavite), while three or 3.57

percent of the businesses are located in General Trias, Cavite, and two or 2.38

percent are located in Tanza.

The location of businesses plays a crucial role in determining employment

opportunities and the overall economic landscape of a region. The employment

status of an area, including factors such as job availability, wage levels, and

workforce skill sets, can significantly impact businesses' decisions regarding their

location. Studies have shown that businesses consider employment status as a

critical factor when deciding on a location. High employment rates and a skilled labor

force are often attractive to businesses seeking to establish or expand operations

(Moretti, 2010). Conversely, regions with high unemployment rates or limited skill

sets may deter businesses due to concerns about workforce availability and

productivity (Autor, 2014).

 37

Table 3.3 Profile of the Selected Companies Operating in Philippine Economic

Zone Authority Cavite According to the founding year of the business

PROFILE FREQUENCY PERCENTAGE

Year of Establishment

1981-1990 1 1.19
1991-2000 18 21.43
2001-2010 33 39.29
2011-2020 32 38.09
TOTAL 84 100
As shown in Table 3.3, one or 1.19 percent of the businesses were established in

1981-1990. During the period from 1981 to 1990, the Philippines experienced varying

levels of economic growth influenced by both internal and external factors. According

to historical data, the Philippine economy grew at an average annual rate of around

3.8% during the 1980s. However, the growth rate was not consistent throughout the

decade. In the early 1980s, the country faced a severe economic downturn,

characterized by high inflation, budget deficits, and a depreciating currency. This was

partly attributed to the external debt crisis and unfavorable global economic

conditions (Sarkis et al., 2011). To address these challenges, the Philippine

government implemented structural adjustment programs in collaboration with

international financial institutions. These programs aimed to reduce budget deficits,

promote export-oriented growth, and attract foreign investments. Economic reforms

were undertaken to liberalize trade and investment policies, encourage export-

oriented industries, and improve the business environment. The manufacturing

sector had mixed performance during the 1980s. Some industries, such as

electronics and garments, experienced growth and export success. However, the

sector also faced challenges such as infrastructure limitations, high energy costs,

and technological gaps.

The next 10 years showed a different fate. As seen in Table 3.3, eighteen or 21.43

percent of the businesses were established in 1991-2000. In the early 1990s, the

Philippine government implemented comprehensive economic reforms aimed at

 38

liberalizing trade and investment, deregulating industries, and improving the business

environment. These reforms were driven by the need to address the country's

economic challenges and attract foreign investments. The government implemented

reforms to strengthen the financial sector, including the restructuring of banks,

improving regulations, and enhancing supervision. These reforms aimed to increase

the sector's resilience, promote stability, and facilitate access to credit for businesses

and consumers (Moretti, 2010).

Fortunately, the Philippine economy demonstrated resilience and sustained

economic growth during the 2001-2020 period, despite challenges such as global

economic uncertainties, natural disasters, and regional financial crises. The average

annual GDP growth rate during this period ranged from approximately 4% to 7%.

Thus, thirty-three or 39.29 percent of the businesses were established from 2001-

2010, and thirty-two or 38.09 percent of the businesses were established from 2011

to 2020.

As portrayed in the results, more companies were established in the early 21st

century. It is important to take note of how long companies operate. The year of

establishment of a business can have some relevance to its employment success,

although it is not the sole determining factor. However, a business that has been

established for a longer period of time may have had more time to build a strong

market presence and reputation. This can attract customers, clients, and potential

employees who are familiar with the company and trust its products or services.

Additionally, older businesses often have accumulated experience and expertise in

their industry. This can give them a competitive advantage in terms of knowledge,

skills, and established processes, which may contribute to their ability to attract and

retain talented employees.

Table 3.4 Profile of the Selected Companies Operating in Philippine Economic

Zone Authority Cavite According to actual operational years of the business
 39

PROFILE FREQUENCY PERCENTAGE

Number of Years in Actual
Operation
1-5 years 14 16.67
6-10 years 9 10.71
11-15 years 20 23.81
16-20 years 18 21.43
21-25 years 10 11.90
26-30 years 11 13.10
31-35 years 2 2.38
TOTAL 84 100

Based on Table 3.4, fourteen or 16.67 percent of businesses are operating within the

period of one to five years. Nine or 10.71 percent of businesses are operating within

the period of six to ten years. Twenty or 23.81 percent of businesses are operating

within the period of eleven to fifteen years. Eighteen or 21.43 percent of businesses

are operating within the period of sixteen to twenty years. Ten or 11.90 percent of

businesses are operating within the period of twenty-one to twenty-five years. While

eleven or 13.10 percent of businesses are operating within the period of twenty-six to

thirty years. And, two or 2.38 percent of businesses are operating within the period of

thirty-one to thirty-five years.

One of the key advantages of long operational years is the establishment of trust and

reputation. As a business continues to operate successfully over an extended period,

it earns the trust of its customers, suppliers, and stakeholders. Consistent delivery of

quality products or services, coupled with strong customer relationships, enhances

the reputation of the business. This reputation, in turn, builds customer loyalty and

attracts new clients, providing a competitive edge in the market (Smith, 2018).
 40

Employment of Economics Graduates among Selected Companies Operating

in PEZA Cavite

Table 4. Distribution of participants with employed Economics graduates

ITEM FREQUENCY (N=84)
Yes % No %
Have workers that have a degree in
26 31 58 69
Economics

Table 5. Distribution of the reasons why companies do not have employees

with a degree in economics
REASONS WHY COMPANIES DO NOT HAVE FREQUENCY PERCENTAGE
EMPLOYEES WITH A DEGREE IN ECONOMICS
Companies do not have any economics degree 20 34.48
holder employees, however, they are willing to
accept applicants with a degree in economics
The roles and responsibilities of economics degree 7 12.07
holder do not apply to the actual work
Most of the company’s employees have other 8 13.79
courses such as engineering, management,
accounting, psychology, and IT degree holders
There are no available positions for economics 17 29.31
degree holders
Companies did not state the reasons why they do 6 10.34
not have employees with a degree in economics
TOTAL 58 100

As shown in Table 4, twenty-six or 31 percent of the companies state that they have

workers with a degree in Economics, while fifty-eight or 69 percent of the companies

indicate that they do not have workers with a Bachelor's Degree in Economics.

However, the majority of companies still look forward to hiring economic graduates

as portrayed in Table 5 - having a percentage of 34.48. They believe that economic

graduates often possess strong analytical and critical thinking skills, enabling them to

analyze complex economic data, evaluate market trends, and assess business

performance (Dietrich, 2016). Additionally, economic graduates are equipped with

data analysis and research skills, which are valuable in conducting economic

research, interpreting data, and making informed decisions (Gibson & Sutton, 2011).

According to Romer (2015), economic graduates are trained to approach problems

analytically and develop effective solutions based on economic analysis, making

 41

them valuable in addressing complex business challenges. These reasons provide

company owners with the motivation to seek more economic graduate employees.

Table 6. Number of present workers of Economics graduates according to job

status

Job-status FREQUENCY PERCENTAGE

Permanent 65 9.08

Probationary 143 19.97

Casual 506 70.67

Others 2 0.28

TOTAL 716 100

According to the study's findings, there are a total of 716 employees with economics

degrees, classified by their employment status. Among them, 65 individuals or 9.08

percent are categorized as permanent employees, while 143 individuals or 19.97

percent are on probationary status. The majority, 506 individuals or 70.67 percent,

are classified as casual employees. However, the participants who submitted the

study did not specify the employment status of two individuals, representing 0.28

percent of the total.

These findings indicate that the majority of workers with economics degrees hold

casual employment status. Engaging economic graduates as casual employees

offers several benefits, including their flexibility, specialized economic expertise, data

analysis and research skills, problem-solving abilities, and cost-effectiveness.

However, organizations must carefully consider the parameters of casual

employment and establish effective communication channels to maximize the

contributions of economic graduates in these arrangements.

Casual employment is often associated with flexibility, allowing workers to choose

when and where they work. Research has examined the relationship between casual

employment and work-life balance, yielding mixed results. Some studies suggest that
 42

casual work provides opportunities for work-life integration, while others highlight

potential negative impacts on family responsibilities and personal well-being (Pocock

et al., 2010). Additionally, research has explored the job quality and working

conditions of casual employees, revealing lower job security, limited access to

employment benefits (such as paid leave and health insurance), and less control

over work schedules (Wooden & Warren, 2018). Casual workers may also encounter

challenges in career progression and skill development.

Table 7. Ranking of Job Positions that Economic graduates hold in the company
Job Positions Number of Companies with RANK
Economics Degree Employees

Financial Analyst 13 1

General Manager 11 2

Recruiter 11 2

Sales Manager 11 2

Market Research Analyst 10 3

Operations Analyst 10 3

Employment Manager 9 4

Marketing Manager 9 4

Financial Manager 7 5

Management Consultant 7 5

Financial Planner 6 6

Data Analyst 6 6

Logistic Manager 4 7

Policy Analyst 4 7

Sales Representative 3 8

Loans Officer 3 8
Table 7 presents a list of companies that employ graduates with economics degrees,

specifying the number of positions held by economics graduates in each company.

The majority of these companies employ economics graduates as financial analysts.

 43

For economic graduates, becoming a financial analyst is often a primary career goal,

as it allows them to apply their valuable skills and knowledge in a specialized role.

Economic graduates possess a unique combination of economic expertise and

analytical capabilities, enabling them to excel in financial analysis. By leveraging their

economic knowledge, data analysis skills, and understanding of market dynamics,

economic graduates contribute to the accuracy and effectiveness of financial

analysis. They play a vital role in providing insights and recommendations that

support strategic financial decision-making within organizations (Wooden & Warren,

2018).

General managers and recruiters rank second among the companies employing

economists. The third rank is occupied by marketing managers, operation analysts,

and employment managers in eight companies. Sales managers and market

research analysts hold the fourth rank in the seven companies. Economic graduates

are known for their strong management skills.

The role of general managers encompasses various responsibilities that are crucial

to organizational success. They oversee overall operations, set strategic direction,

make critical decisions, manage teams, and monitor performance (Birkinshaw et al.,

2016). General managers play a key role in driving the organization towards its

goals, ensuring effective resource allocation, and providing leadership and guidance

to employees (Mintzberg, 1975). Strategic planning is a fundamental aspect of the

general manager's role. They develop long-term plans, assess market dynamics, and

align the organization's objectives with industry trends and competitive landscapes

(Hitt et al., 2017). Decision-making is another critical responsibility of general

managers, as they analyze information, evaluate options, and make informed

decisions that impact various aspects of the organization (Gupta & Govindarajan,

2020).

Additionally, general managers are responsible for financial management, including

budgeting, financial reporting, and resource management, to ensure optimal financial

 44

outcomes (Hitt et al., 2017). They engage in stakeholder management by building

relationships with employees, customers, suppliers, investors, and the community

(Birkinshaw et al., 2016). Monitoring performance, assessing operational processes,

and identifying areas for improvement are also key responsibilities of general

managers (Hitt et al., 2017).

Financial planners, financial managers, and data analysts rank fifth among the

companies employing economics degree holders. Management consultants hold

positions in five companies, while policy analysts and sales representatives are

ranked seventh in three companies. Loan officers and logistic managers are ranked

eighth and ninth, respectively.

Sales representatives are crucial in driving revenue generation and building customer

relationships. They promote and sell products or services, meet sales targets, and

serve as key points of contact between the company and its clients (Johnston &

Marshall, 2016). Sales representatives play a vital role in achieving business growth

and sales objectives.

Table 8. List of companies that have job positions for economics degree
holders
COMPANIES THAT HAVE THESE
JOB POSITION
POSITIONS
Omon group Inc.
M2 Fabrication Inc.
Plastic Plus Manufacturing Inc.
Glory
MARKETING MANAGER Hayakawa Component Technologies Inc.
Newley Ever Rise Electronics
Jin-Hung Technology Phils Corp
Samyoung Electronics Phils Incorporated
Accumtermtech Philippines Inc.
Dong Sun Ironware Processor Inc.
Omon group Inc.
Plastic Plus Manufacturing Inc.
Glory
FINANCIAL MANAGER Newley Ever Rise Electronics
KFI Philippines Incorporated
JFB Tech Philippines Inc.
Ant Steel Corporation

Dong Sun Ironware Processor Inc.

Omon group Inc.
M2 Fabrication Inc.
Plastic Plus Manufacturing Inc.
Glory
EMPLOYMENT MANAGER Hayakawa Component Technologies Inc.
Newley Ever Rise Electronics
Jin-Hung Technology Phils Corp
JFB Tech Philippines Inc.
 45

Glory
Hayakawa Component Technologies Inc.
Fander Technology Philippines Corporation
Accel Carrageenan Corporation
Polycell Technology, Inc
SALES MANAGER Fyn Green Pet Corporation
AGM Packaging System ltd. Corp
JFB Tech Philippines Inc.
Accumtermtech Philippines Inc.
Glove Story (Phils) Inc.
BBSON Technology
Omon group Inc.
Glory
LOGISTIC MANAGER Accumtermtech Philippines Inc.
Glove Story (Phils) Inc.
Plastic Plus Manufacturing Inc.
Glory
Hayakawa Component Technologies Inc.
Newley Ever Rise Electronics
Kabisig Workers Cooperative
Enomoto Phil. Manufacturing Inc.
GENERAL MANAGER Daisho Tech Phils Corporation
Shin Sae Han Philippines Manufacturing Inc
JFB Tech Philippines Inc.
AGM Packaging System ltd. Corp
Ant Steel Corporation

JRD Systems Technology Inc.

Plastic Plus Manufacturing Inc.
Glory
Hayakawa Component Technologies Inc.
Newley Ever Rise Electronics
OPERATION ANALYST GP Synergia Technology Corp
Fyn Green Pet Corporation
Fander Technology Philippines Corporation
JFB Tech Philippines Inc.
BBSON Technology

Dong Sun Ironware Processor Inc.

Plastic Plus Manufacturing Inc.
Glory
MANAGEMENT CONSULTANT Kabisig Workers Cooperative
Shin Sae Han Philippines Manufacturing Inc
Accumtermtech Philippines Inc.
Glove Story (Phils) Inc.
JRD Systems Technologies Inc.
Glory
Mec Electronics Philippines Corp.
GP Synergia Technology Corp
Fyn Green Pet Corporation
MARKET RESEARCH ANALYST Polycell Technology, Inc
Fander Technology Philippines Corporation
Ant Steel Corporation
Glove Story (Phils) Inc.
BBSON Technology

JRD Systems Technologies Inc.

Dong Sun Ironware Processor Inc.
Glory
Hayakawa Component Technologies Inc.
Jin-Hung Technology Phils Corp
FINANCIAL ANALYST GP Synergia Technology Corp
Enomoto Phil. Manufacturing Inc.
Fyn Green Pet Corporation
Polycell Technology, Inc
KFI Philippines Incorporated
Glove Story (Phils) Inc.
Glory
Kabisig Workers Cooperative
POLICY ANALYST Fyn Green Pet Corporation
Glove Story (Phils) Inc.
BBSON Technology
FINANCIAL PLANNER Dong Sun Ironware Processor Inc.
Omon group Inc.
Glory
 46

Hayakawa Component Technologies Inc.

Polycell Technology, Inc
AGM Packaging System ltd. Corp
JRD Systems Technologies Inc.
Glory
GP Synergia Technology Corp
DATA ANALYST Enomoto Phil. Manufacturing Inc.
Fyn Green Pet Corporation
Polycell Technology, Inc
Dong Sun Ironware Processor Inc.
SALES REPRESENTATIVE Glory
Accel Carrageenan Corporation
Glory
LOANS OFFICER Glove Story (Phils) Inc.
RECRUITER Dong Sun Ironware Processor Inc.
Glory
Hayakawa Component Technologies Inc.
Newley Ever Rise Electronics
Jin-Hung Technology Phils Corp
Enomoto Phil. Manufacturing Inc.
Omon group Inc.
Shin Sae Han Philippines Manufacturing Inc.
Polycell Technology, Inc.
Accumtermtech Philippines Inc.
Glove Story (Phils) Inc.
BBSON Technology
Manager

To be an effective manager, individuals require a diverse set of skills and

competencies. The role of a general manager is multifaceted, requiring a

combination of leadership, strategic thinking, communication, decision-making, and

team management skills.

Leadership skills are paramount for managers as they are responsible for guiding

and inspiring their teams. Effective leaders have the ability to set a clear vision,

motivate employees, and foster a positive work environment (Yukl, 2013). They

provide direction, empower their team members, and encourage collaboration to

achieve organizational goals.

Communication skills are crucial for managers to effectively convey information,

provide feedback, and build relationships. Strong communication abilities enable

them to articulate ideas clearly, listen actively, and resolve conflicts (Goleman, 2000).

Effective communication fosters trust, ensures alignment, and facilitates smooth

collaboration among team members.

Strategic thinking is a vital skill for managers as they are responsible for charting the

organization's course and making decisions that impact its long-term success.

Strategic thinkers have the ability to analyze complex situations, anticipate trends,
 47

and develop innovative strategies (Hitt et al., 2017). They consider internal and

external factors to align the organization's goals with market dynamics and stay

ahead of competitors.

Decision-making skills are essential for managers as they regularly face complex and

critical decisions. Effective decision-makers gather and analyze relevant information,

evaluate options, and consider the potential impact on various stakeholders (Gupta &

Govindarajan, 2020). They employ logical and analytical thinking to make informed

choices that align with the organization's objectives.

Team management skills are crucial for managers to lead and motivate their teams

effectively. They should possess the ability to delegate tasks, provide constructive

feedback, and create a supportive work environment (Bass & Riggio, 2006). Effective

team management fosters collaboration, enhances productivity, and encourages

employee growth and development.

Financial acumen is an important skill for managers as they are responsible for

managing financial resources and making sound financial decisions. They need to

understand financial statements, analyze financial data, and make budgetary

decisions to ensure the organization's financial health (Hitt et al., 2017).

Problem-solving skills are critical for managers to address challenges and find

effective solutions. They need to identify problems, gather relevant information,

analyze alternatives, and make decisions that mitigate risks and maximize

opportunities (Bazerman & Moore, 2013). Effective problem-solving skills enable

general managers to navigate uncertainties and drive organizational success.

Adaptability is a key skill for managers as they operate in dynamic and ever-changing

environments. They should embrace change, stay abreast of industry trends, and be

willing to adjust strategies as needed (Hitt et al., 2017). Adaptability allows general

managers to respond to emerging opportunities and challenges proactively.

The role of a manager demands a wide range of skills and competencies. Effective

general managers possess leadership, strategic thinking, communication, decision-

 48

making, team management, financial acumen, problem-solving, adaptability, and

ethical decision-making skills. By developing and honing these skills, general

managers can navigate complexities, drive organizational success, and create a

positive and productive work environment.

Recruiter

To excel as a recruiter, individuals require a diverse set of skills and competencies.

The role of a recruiter involves sourcing, attracting, and selecting top talent for

organizations. It requires a combination of interpersonal, communication, networking,

analytical, and organizational skills.

One of the primary skills for recruiters is strong interpersonal skills. Recruiters need

to build rapport and establish positive relationships with candidates, hiring managers,

and other stakeholders (Wang & Tung, 2012). Effective interpersonal skills enable

recruiters to engage candidates, understand their motivations, and foster a positive

candidate experience throughout the recruitment process.

Communication skills are essential for recruiters to effectively convey job

requirements, explain company culture, and provide clear information to candidates

(Woods & West, 2010). Recruiters need to be articulate, attentive listeners, and able

to communicate with clarity and professionalism. Clear and effective communication

helps recruiters attract and engage top talent.

Networking skills are crucial for recruiters to identify and connect with potential

candidates. They need to develop and maintain a strong network of professionals,

both online and offline, to source qualified candidates (Searle & Skinner, 2015).

Active networking allows recruiters to tap into talent pools, access referrals, and stay

informed about industry trends.

Recruiters must possess analytical skills to assess candidate qualifications and

match them to job requirements. They need to evaluate resumes, assess skills and

experience, and make informed decisions regarding candidate fit (Barber, 2012).
 49

Analytical skills help recruiters make objective judgments and identify the best

candidates for the organization.

Organizational skills are vital for recruiters to manage multiple candidates and hiring

processes simultaneously (Dessler et al., 2019). Recruiters must maintain organized

records, follow up with candidates and hiring managers, and manage schedules and

deadlines effectively. Strong organizational skills ensure a smooth recruitment

process and timely communication with candidates.

Problem-solving skills are important for recruiters to navigate challenges and find

innovative solutions during the recruitment process. They may encounter issues such

as talent shortages, high competition, or changing requirements (Breaugh & Starke,

2000). Recruiters with strong problem-solving skills can adapt their strategies, think

creatively, and overcome obstacles to find suitable candidates.

Knowledge of employment laws and regulations is critical for recruiters to ensure

compliance and ethical hiring practices (Dessler et al., 2019). Recruiters need to

understand equal employment opportunity laws, privacy regulations, and other legal

considerations to ensure fairness and avoid discrimination during the recruitment

process.

Adaptability is a key skill for recruiters as the recruitment landscape is constantly

evolving. They need to stay updated on industry trends, emerging technologies, and

new recruitment strategies (Searle & Skinner, 2015). Adaptable recruiters can adjust

their approach, embrace new tools, and leverage technology to attract and assess

top talent effectively.

Loan Officer

To succeed as a loan officer, individuals need to possess a combination of skills and

competencies that enable them to effectively evaluate loan applications, assess

creditworthiness, and manage client relationships. The following are the skills needed

to be a loan officer:
 50

Financial Analysis: Loan officers require strong financial analysis skills to assess the

creditworthiness of loan applicants. They analyze financial statements, income

documents, and credit reports to evaluate the borrower's ability to repay the loan

(Madura, 2017). Effective financial analysis skills help loan officers make informed

decisions and mitigate risks associated with lending.

Attention to Detail: Loan officers need exceptional attention to detail to thoroughly

review loan applications and ensure all necessary documentation is provided

(Freund, 2019). They must accurately assess financial information, verify supporting

documents, and identify any inconsistencies or red flags that may impact the loan

approval process.

Communication Skills: Effective communication skills are essential for loan officers to

interact with borrowers, explain loan terms, and provide guidance throughout the loan

application process (Miller, 2017). Loan officers must be able to explain complex

financial concepts in a clear and concise manner, building trust and maintaining

strong relationships with clients.

Customer Service: Loan officers should possess excellent customer service skills to

provide a positive experience for borrowers. They need to be responsive, proactive,

and attentive to customer needs and inquiries (Murphy, 2019). Strong customer

service skills help loan officers establish rapport, address concerns, and ensure a

smooth loan application process.

Analytical Thinking: Loan officers need analytical thinking skills to evaluate loan

applications, assess risk, and make sound lending decisions (Brigham & Ehrhardt,

2019). They must analyze various factors such as income stability, credit history, and

collateral value to determine the viability of granting a loan.

Compliance Knowledge: Loan officers must have a comprehensive understanding of

lending regulations and compliance requirements to ensure adherence to legal and

regulatory frameworks (Freund, 2019). They need to stay updated on industry

 51

regulations such as the Truth in Lending Act (TILA) and the Fair Credit Reporting Act

(FCRA).

Problem-Solving: Loan officers encounter complex situations and must possess

strong problem-solving skills to find solutions that meet both borrower and lender

needs (Madura, 2017). They should be able to assess alternatives, evaluate risks,

and propose appropriate loan structures that balance borrower requirements and risk

management.

Time Management: Loan officers handle multiple loan applications simultaneously

and need effective time management skills to prioritize tasks, meet deadlines, and

ensure efficient processing (Miller, 2017). They must manage their workload

effectively to provide timely responses to borrowers and maintain productivity.

Sales and Negotiation: Loan officers often engage in sales and negotiation activities

to attract borrowers and secure favorable loan terms (Brigham & Ehrhardt, 2019).

They need persuasive communication skills to highlight loan benefits, negotiate

interest rates, and address borrower concerns.

Ethical Conduct: Loan officers must adhere to ethical standards and professional

codes of conduct in their interactions with borrowers and lenders (Murphy, 2019).

They should prioritize transparency, fairness, and integrity in the lending process.

A successful loan officer requires a combination of financial analysis, attention to

detail, communication, customer service, analytical thinking, compliance knowledge,

problem-solving, time management, sales and negotiation, and ethical conduct skills.

By developing and honing these skills, loan officers can effectively evaluate loan

applications, manage client relationships, and make sound lending decisions.

Analyst

To be an analyst, individuals need a specific set of skills and competencies that

 52

enable them to analyze data, extract meaningful insights, and provide valuable

recommendations.

Data Analysis Skills: Analysts must possess strong data analysis skills to effectively

process and analyze large datasets. They should be proficient in using analytical

tools and software to extract meaningful insights and identify patterns (Bryman &

Bell, 2019). Data analysis skills enable analysts to make informed decisions based

on data-driven evidence.

Critical Thinking: Critical thinking skills are essential for analysts to evaluate

information, assess its credibility, and draw logical conclusions (Facione, 2011).

Analysts need to think critically to identify underlying assumptions, evaluate different

perspectives, and make sound judgments based on available data.

Problem-Solving Abilities: Analysts should possess strong problem-solving skills to

identify and solve complex problems using analytical approaches (Dwyer, 2016).

They need to break down complex issues, analyze root causes, and develop

effective solutions to address challenges or optimize processes.

Domain Knowledge: Analysts require domain knowledge in the specific field they are

working in. They need to understand industry trends, business models, and relevant

concepts to provide accurate and meaningful analysis (Bryman & Bell, 2019).

Domain knowledge enhances the analyst's ability to interpret data and provide

valuable insights.

Statistical Skills: Analysts should have a solid foundation in statistics to effectively

analyze data and interpret results (Field, 2017). They need to be familiar with

statistical techniques such as regression analysis, hypothesis testing, and data

modeling to derive meaningful insights from data.

Communication Skills: Effective communication skills are crucial for analysts to

convey complex findings and insights to stakeholders in a clear and concise manner

(Duarte et al., 2019). Analysts should be able to translate technical analysis into
 53

actionable recommendations and present them in a way that is easily understandable

by non-technical audiences.

Attention to Detail: Analysts must pay attention to detail to ensure accuracy in their

analysis and avoid errors or oversights (Dwyer, 2016). They need to carefully review

data, double-check calculations, and validate results to provide reliable and credible

analysis.

Time Management: Analysts often work on multiple projects and face tight deadlines.

Effective time management skills are necessary to prioritize tasks, allocate resources

efficiently, and meet project timelines (Duarte et al., 2019). Analysts should be able

to manage their workload effectively and deliver high-quality analysis within given

time constraints.

Adaptability and Continuous Learning: Analysts should be adaptable and open to

learning new tools, techniques, and industry trends. They need to stay updated with

the latest advancements in data analysis and embrace new technologies to enhance

their analytical capabilities (Bryman & Bell, 2019).

Ethical Conduct: Analysts should adhere to ethical standards and maintain

confidentiality when handling sensitive data (Field, 2017). They need to handle data

responsibly, respect privacy regulations, and ensure the ethical use of data in their

analysis.

To be a successful analyst requires a combination of data analysis skills, critical

thinking, problem-solving abilities, domain knowledge, statistical skills,

communication skills, attention to detail, time management, adaptability, and ethical

conduct. By developing and honing these skills, analysts can provide valuable

insights, make informed decisions, and contribute to organizational success.

Planner
 54

To be a good planner, individuals need a specific set of skills and competencies that

enable them to effectively analyze information, develop strategic plans, and

coordinate implementation. The following essay explores some of the key skills

needed to succeed as a planner, supported by relevant in-text citations.

Analytical Skills: Planners require strong analytical skills to gather and analyze data,

assess trends, and identify opportunities or challenges (Campbell, 2016). They need

to analyze information from various sources, such as demographic data, market

research, and economic indicators, to inform their planning decisions.

Critical Thinking: Critical thinking skills are crucial for planners to evaluate

information, consider different perspectives, and make informed judgments (Facione,

2011). Planners should be able to think critically to identify underlying assumptions,

evaluate the potential implications of different planning options, and assess the

feasibility of proposed strategies.

Strategic Thinking: Planners need to think strategically to develop long-term visions

and plans that align with organizational goals (Bryson, 2018). They should be able to

identify strategic priorities, assess the competitive landscape, and envision future

trends to guide their planning decisions.

Communication Skills: Effective communication skills are essential for planners to

convey their ideas, proposals, and recommendations to various stakeholders

(Hovland et al., 2014). Planners need to communicate complex information in a clear

and concise manner, engage stakeholders, and build consensus around planning

initiatives.

Collaboration and Stakeholder Engagement: Planners should have strong

collaboration and stakeholder engagement skills to involve key stakeholders in the

planning process (Campbell, 2016). They need to facilitate meaningful discussions,

listen to diverse perspectives, and build relationships to ensure that planning efforts

reflect the needs and aspirations of the community or organization.

 55

Problem-Solving Abilities: Planners encounter complex problems and challenges that

require effective problem-solving skills (Bryson, 2018). They need to identify

problems, analyze root causes, and develop innovative solutions that address the

unique context of the planning situation.

Research and Data Analysis: Planners should be proficient in conducting research

and data analysis to inform their planning decisions (Healey, 2017). They need to

collect relevant data, analyze trends, and interpret findings to develop evidence-

based plans and recommendations.

Flexibility and Adaptability: Planners should be adaptable and open to adjusting their

plans in response to changing circumstances or emerging opportunities (Hovland et

al., 2014). They need to consider dynamic factors and be willing to modify plans as

new information becomes available.

Project Management: Planners often oversee the implementation of planning

initiatives and need basic project management skills to ensure timely and effective

execution (Campbell, 2016). They should be able to develop project plans, monitor

progress, manage resources, and coordinate activities to achieve planning

objectives.

Ethical Conduct: Planners should adhere to ethical standards and act with integrity

when making planning decisions (Healey, 2017). They need to consider social,

environmental, and economic impacts and make choices that uphold ethical

principles and promote sustainability.

Being a successful planner requires a combination of analytical skills, critical thinking,

strategic thinking, communication skills, collaboration and stakeholder engagement,

problem-solving abilities, research and data analysis, flexibility and adaptability,

project management, and ethical conduct. By developing and honing these skills,

planners can effectively analyze information, develop strategic plans, and contribute

to the achievement of organizational or community goals.

 56

Consultant

To excel as a consultant, individuals need a specific set of skills and competencies

that enable them to provide expert advice, deliver valuable insights, and guide

organizations toward success. The following essay explores some of the key skills

needed to succeed as a consultant, supported by relevant in-text citations.

Subject Matter Expertise: Consultants must possess extensive knowledge and

expertise in their respective fields (Kubr, 2002). They need to stay updated on

industry trends, best practices, and emerging technologies to provide accurate and

valuable insights to clients.

Analytical Skills: Consultants require strong analytical skills to analyze complex

problems, evaluate data, and identify relevant patterns or trends (Bellman et al.,

2015). They should be able to assess information from various sources, draw

meaningful conclusions, and provide data-driven recommendations to clients.

Problem-Solving Abilities: Effective problem-solving skills are essential for

consultants to identify challenges, develop innovative solutions, and address client

needs (Block, 2011). They should be able to think critically, assess multiple

perspectives, and apply creative problem-solving techniques to overcome

organizational obstacles.

Communication Skills: Excellent communication skills are crucial for consultants to

convey complex ideas, deliver recommendations, and build strong relationships with

clients (Kubr, 2002). They need to effectively articulate their findings, present

information in a clear and concise manner, and adapt their communication style to

suit diverse audiences.

Adaptability: Consultants should be adaptable and flexible to thrive in dynamic and

rapidly changing business environments (Block, 2011). They need to adjust their

approach based on client needs, industry trends, and emerging challenges to provide

relevant and timely solutions.

 57

Interpersonal Skills: Consultants must possess strong interpersonal skills to build

rapport, establish trust, and collaborate effectively with clients and team members

(Block, 2011). They should be able to navigate complex relationships, manage

conflicts, and foster positive working partnerships.

Project Management: Consultants often work on multiple projects simultaneously and

need project management skills to effectively plan, organize, and deliver on client

engagements (Block, 2011). They should be able to define project scope, set realistic

timelines, allocate resources efficiently, and ensure successful project outcomes.

Business Acumen: Consultants need a solid understanding of business principles,

including finance, marketing, operations, and strategy (Bellman et al., 2015). They

should be able to analyze organizational dynamics, identify growth opportunities, and

provide strategic guidance to clients.

Continuous Learning: Consultants should have a thirst for knowledge and a

commitment to continuous learning (Kubr, 2002). They need to stay updated on

industry trends, emerging technologies, and best practices to deliver innovative and

cutting-edge solutions to clients.

Ethical Conduct: Consultants must adhere to ethical standards and maintain

confidentiality in their engagements (Bellman et al., 2015). They should prioritize

transparency, integrity, and the best interests of the client when providing

recommendations or advice.

A successful consultant requires a combination of subject matter expertise, analytical

skills, problem-solving abilities, communication skills, adaptability, interpersonal

skills, project management, business acumen, continuous learning, and ethical

conduct. By developing and honing these skills, consultants can deliver valuable

insights, guide organizational decisions, and contribute to the success of their clients.

Sales Representative
 58

To excel as a sales representative, individuals need a specific set of skills and

competencies that enable them to effectively promote products or services, build

customer relationships, and achieve sales targets. The following essay explores

some of the key skills needed to succeed as a sales representative, supported by

relevant in-text citations.

Communication Skills: Effective communication skills are crucial for sales

representatives to establish rapport with customers, understand their needs, and

deliver persuasive sales messages (Manning & Reece, 2017). They should be able

to articulate product features and benefits, actively listen to customer feedback, and

adapt their communication style to different audiences.

Interpersonal Skills: Sales representatives must possess strong interpersonal skills to

build trust, foster relationships, and create a positive customer experience (Zoltners

et al., 2018). They should be friendly, approachable, and capable of connecting with

customers on a personal level to develop long-term business relationships.

Product Knowledge: Sales representatives need in-depth knowledge about the

products or services they are selling (Berkowitz et al., 2016). They should be able to

explain product features, address customer questions, and highlight how the product

can meet customer needs and solve their problems.

Persuasion and Influencing Skills: Sales representatives should have strong

persuasion and influencing skills to effectively convince customers to make a

purchase (Zoltners et al., 2018). They should be capable of overcoming objections,

handling customer concerns, and tailoring their sales approach to match individual

customer preferences.

Negotiation Skills: Sales representatives require negotiation skills to secure favorable

terms, handle pricing discussions, and close deals (Manning & Reece, 2017). They

should be able to negotiate effectively with customers to find mutually beneficial

solutions and achieve win-win outcomes.

 59

Time Management: Sales representatives often juggle multiple tasks and need to

manage their time effectively to meet sales targets and handle administrative

responsibilities (Johnston & Marshall, 2016). They should prioritize tasks, plan their

schedules, and allocate time efficiently to maximize productivity.

Problem-Solving Abilities: Sales representatives should possess strong problem-

solving skills to address customer challenges, handle objections, and provide

effective solutions (Berkowitz et al., 2016). They should be capable of thinking on

their feet, analyzing customer needs, and offering suitable recommendations to meet

those needs.

Resilience and Persistence: Sales representatives often face rejection and setbacks,

so they need resilience and persistence to stay motivated and focused on their sales

goals (Manning & Reece, 2017). They should be able to bounce back from rejection,

learn from failures, and maintain a positive attitude in the face of challenges.

CRM and Technology Skills: Sales representatives should be proficient in using

Customer Relationship Management (CRM) systems and other sales technologies to

manage customer data, track leads, and streamline sales processes (Zoltners et al.,

2018). They should be comfortable using technology tools to enhance their sales

effectiveness.

Ethical Conduct: Sales representatives must adhere to ethical standards and act with

integrity in their interactions with customers (Berkowitz et al., 2016). They should

prioritize the best interests of customers, provide accurate information, and avoid

deceptive or unethical sales practices.

In conclusion, being a successful sales representative requires a combination of

communication skills, interpersonal skills, product knowledge, persuasion and

influencing skills, negotiation skills, time management, problem-solving abilities,

resilience and persistence, CRM and technology skills, and ethical conduct. By

developing and honing these skills, sales representatives can effectively engage

customers, build relationships, and achieve sales targets.

 60

Table 9. Skills required by the Selected Companies Operating in PEZA Cavite

SKILLS Mean Qualitative
N=84 Interpretation
Cognitive 3.67 Very High
The ability to abstract thinking, analysis, and 3.64 Very High
synthesis
Ability to apply knowledge in practical 3.70 Very High
situations

Ability to generate new ideas (creativity) 3.69 Very High

Ability of critical and self-critical thinking 3.69 Very High

Ability to search for, process, and analyze Very High
information from a variety of sources 3.69
Ability to make reasoned decisions 3.74 Very High
Knowledge and understanding of the subject 3.67 Very High
area and understanding of the profession
Ability to collect, organized, analyze, and 3.62 Very High
interpret numerical data
Ability to identify, pose and resolve 3.61 Very High
problems
Social 3.73 Very High
Ability to work in a team 3.77 Very High
Ability to negotiate with a client 3.73 Very High
Ability to communicate with other people in 3.70 Very High
a subject area (verbal and written)
Individual 3.67 Very High
Ability to adapt and work 3.70 Very High
in new situations
Ability to work in an international 3.52 Very High
environment
Determination and perseverance in the tasks 3.75 Very High
given and responsibilities taken
Ability to plan and manage time 3.69 Very High
The ability to learn and continuous training 3.71 Very High
Technological 3.50 Very High
Skills in the use of ICT 3.61 Very High
Ability to use programming language or 3.38 Very High
Common or specialized software (e.g.
Microsoft Excel, Powerpoint, Java, Python,
etc.)
Financial 3.59 Very High
Budgeting skills 3.56 Very High
Financial decision-making skills 3.61 Very High
Financial reporting skills 3.57 Very High
Management skills 3.63 Very High
Investing skills 3.56 Very High
OVERALL MEAN 3.63 Very High
Legend:
 61

Range Verbal Interpretation

1.00-1.74 Very Low
1.75-2.49 Low
2.50-3.24 High
3.25-4.00 Very High

Based on Table 9, which discusses the skills required by selected companies

operating in PEZA Cavite, it is evident that cognitive, social, individual, technological,

and financial skills are highly valued, with an overall mean of 3.63. This indicates that

these skills are crucial for employees to possess in order to meet the companies

needs. Additionally, research by McMurray et al. (2016) highlights that employers

consider certain core fundamental skills essential and influential in their hiring

decisions.

Cognitive skills, particularly those related to critical thinking and the ability to apply

knowledge practically, are highly important for applicants. This skill set has a very

high qualitative interpretation, with a mean of 3.72, making it a key attribute that

companies seek in potential employees. According to Fisher (2022), strong cognitive

skills enable workers to quickly grasp concepts, handle multiple complex tasks

simultaneously, and be highly productive with minimal supervision.

Social skills are also vital, as they enable employees to collaborate effectively in

teams and negotiate with clients. Strong verbal and written communication abilities

contribute to success in a company's workplace, and these skills facilitate

relationship-building with colleagues, clients, and superiors. The ability to work in a

team, with a mean of 3.78, is particularly prioritized by companies, as it offers a

promising future. Beheshtifar et al. (2013) emphasize the significance of social skills

in facilitating predictable interpersonal interactions and improving mutual

understanding.
 62

Individual skills, particularly determination, and perseverance, are highly valued by

companies, as indicated by the highest mean of 3.76. Employees who exhibit these

qualities can set personal goals and become empowered, developing a strong skill

set that enables them to make informed decisions beneficial to the company.

Technological skills, particularly those related to information and communication

technology (ICT), are advantageous in today's digital era. The ability to use

programming languages or specialized software, such as Microsoft Excel,

PowerPoint, Java, Python, etc., is highly valued and has a very high qualitative

interpretation, with a mean of 3.53. Possessing technical abilities not only boosts

confidence but also enhances productivity.

Financial skills, with management skills being the most prominent, are also highly

regarded by companies, as evidenced by the highest mean of 3.56. A solid

understanding of financial accounting allows employees to monitor factors that

impact the company's bottom line. This knowledge inspires employees and enables

them to consider the financial implications of their actions, contributing to the overall

financial health of the organization.

Employees need a combination of cognitive, social, individual, technological, and

financial skills. These skills enable effective communication, problem-solving,

collaboration, and adaptation to technological advancements. By possessing these

skills, sales representatives can contribute to the success of their companies and

achieve their sales targets.

Employment Prospect for Graduates of Economics among Selected

Companies Operating in PEZA Cavite

Table 10 to Table 17 shows the employment prospects for graduates of

economics among selected companies operating in PEZA Cavite.

 63

Table 10. Distribution of companies who needs additional employees whose

field of specialization is Economics
ITEM FREQUENCY (N=84)
Yes % No %
Still need additional employees whose field of 36 42.86 48 57.14
specialization is Economics
Based on the frequency distribution in Table 10, it is evident that there is a demand

for employees with a degree in Economics. Out of the participating companies, 36 or

42.86 percent expressed their need for additional employees in the field of

Economics, while 48 or 57.14 percent stated that they do not require employees with

an economics degree. This indicates that approximately half of the participants are

seeking additional employees with an economics background.

The demand for economic graduates has been steadily increasing due to the ever-

changing global economic landscape and the necessity for expertise in

comprehending and analyzing intricate economic systems. Economic graduates

possess a distinct set of skills and knowledge that render them valuable assets in

various sectors of the economy. This essay will explore the current job market's

demand for economic graduates, supported by relevant in-text citations.

One of the primary factors driving the demand for economic graduates is their

proficiency in analyzing and interpreting economic data. These graduates are trained

in quantitative methods, statistical analysis, and econometric modeling, enabling

them to comprehend economic trends, forecast future outcomes, and make informed

decisions (Mankiw, 2014). Their expertise in economic analysis proves invaluable in

industries such as finance, consulting, and market research, where data-driven

decision-making is paramount.

Furthermore, economic graduates possess a deep understanding of microeconomic

and macroeconomic principles, enabling them to grasp the intricacies of market

dynamics and economic policies (Krugman & Wells, 2015). This comprehensive

knowledge is highly sought after by government agencies, international

 64

organizations, and research institutions, as economic graduates can contribute to

policy formulation, economic development strategies, and economic research.

Economic graduates also play a crucial role in the business sector. Their

comprehension of consumer behavior, demand and supply dynamics, and market

structures equips them to provide insights into market opportunities, pricing

strategies, and competitive analysis (Besanko et al., 2013). In sectors such as

marketing, sales, and strategic planning, economic graduates can contribute to

market intelligence, business forecasting, and the development of growth strategies.

Additionally, economic graduates are well-prepared to tackle complex global

economic challenges. With the advent of globalization and interconnected

economies, businesses and governments require professionals capable of navigating

the complexities of international trade, finance, and economic policies (Krugman &

Obstfeld, 2018). Economic graduates' knowledge of international economics,

exchange rates, and trade policies positions them as valuable assets in international

organizations, multinational corporations, and government agencies involved in

international affairs.

In addition to their technical skills, economic graduates possess strong analytical and

critical thinking abilities. They are trained to think systematically, evaluate evidence,

and consider alternative perspectives (Mankiw, 2014). These skills prove invaluable

in problem-solving, policy analysis, and strategic decision-making roles.

The demand for economic graduates stems from their expertise in economic

analysis, understanding of market dynamics, knowledge of economic principles, and

ability to tackle global economic challenges. Their valuable skills and knowledge

make them sought after in industries such as finance, consulting, government,

research, and business. As the global economy continues to evolve, the need for

economic graduates is expected to persist, establishing them as valuable

contributors across various sectors of the economy.

 65

Table 11. Distribution of reasons why companies do not need additional

employees with a specialization in economics
REASONS WHY COMPANIES DO NOT NEED FREQUENCY PERCENTAGE
ADDITIONAL EMPLOYEES WITH SPECIALIZATION
IN ECONOMICS
Companies have enough employees with regard to 6 12.5
economic field career
Companies are not hiring 8 16.67
The roles and responsibilities of economics degree 5 10.42
holder do not apply to the actual work
Most of the company’s employees have engineering, 2 4.17
management, and IT degree holders
There are no available positions for economics degree 14 29.17
holders
Companies did not state their reasons regarding why 13 27.08
they do not need additional economics degree holder
employees
TOTAL 48 100

As shown in Table 11, the primary reason companies stated for not hiring economic

graduates is the lack of vacancies suited for individuals with an economics

background, accounting for 29.17% of responses. Some companies have job roles

that require skills and expertise not directly related to economics. For example,

positions in creative fields such as graphic design, content creation, or artistic roles

may prioritize candidates with creative skills and artistic backgrounds over economics

graduates (Besanko et al., 2013). Additionally, some companies simply stated that

they are not currently hiring, which accounted for 16.67% of the responses. Certain

job roles may have specific educational requirements that are not typically fulfilled by

an economics degree. Professions like nursing, law, or computer science, for

example, may require specialized degrees or certifications more directly aligned with

those specific fields (Berkowitz et al., 2016). Depending on the nature of a company's

operations and goals, they may prioritize candidates with skills not typically

associated with economics graduates. This could include skills such as

programming, data analysis, marketing, or project management, which may be more

relevant to the company's specific needs (Manning & Reece, 2017). On the other
 66

hand, 4.17% of companies operating in industries that do not heavily rely on

economic analysis or macroeconomic factors may not prioritize economics graduates

in their hiring process. For instance, in industries focused on technical fields like

engineering or manufacturing, candidates with specialized technical knowledge may

be more sought after than those with economics backgrounds (Mankiw, 2014).

Companies often aim to bring diversity to their workforce by considering candidates

from various educational backgrounds, including those outside of economics, to

foster a diverse and inclusive work environment (Zoltners et al., 2018).

Table 12. Distribution of companies who plans to hire more Economics graduates
ITEM FREQUENCY (N=84)
Yes % No %
Have plans of hiring more Economic graduates 63 75 21 25

Table 12 shows the frequency distribution of companies that intend to hire

more economics graduates: sixty-three or 75 percent are willing to hire more

economics graduates, while twenty-one or 25 percent of the participants will not hire

more economics graduates in their company.

Table 13. Distribution of the reasons why companies do not have plans on hiring
economics graduates
REASONS WHY COMPANIES DO NOT HAVE PLANS FREQUENCY PERCENTAGE
ON HIRING MORE ECONOMICS GRADUATES
Companies need other courses on their business 7 33.33

Companies are not hiring 2 9.52

There is no available positions for economics degree 5 23.81
holders
Companies did not state their reasons regarding why 7 33.33
they do not have plans on hiring more economics
graduates
TOTAL 21 100

Also, the aforementioned companies that answered no to the plan to hire

more economics graduates in their company said that there is no open position for
 67

economics degree holders, while some answered that they need other business-

related courses in their company.

Table 14. List of the companies who have plans on hiring more economics graduates

LIST OF COMPANIES WHO PLANS TO HIRE MORE ECONOMIC GRADUATES

JRD Systems Technology
Dong Sun Ironware Processor Inc
Omon Group Inc.
MZ Fabrication Inc.
Plastic Plus Manufacturing Inc.
Glory
Hayakawa Component Technologies
Newley Ever Rise Electronics
Mec Electronics Philippines Corporation
Kabisig Workers Cooperative
Jin-Hung Technology Phils Corp
GP Synergia Technology Corp
Enomoto Phil Manufacturing Inc.
JD System Logistic Inc.
FITC Led Lights Manufacturing Co. and General Services
Ecozone Logistic Solution Express
Tritronics Technology Phils Inc.
KSM-RJS Manufacturing Corp
A.L. E-Component International Inc.
SurfinChem Incorporated
KD Technologies Inc.
Chiaolin Electronic Phils Corp.
HS Technologies
Alpha Techno Precision Toolings Inc.
JF Rubber Philippines Inc.
Axcel Carrageenan Corp
Daisho Tech Phils Corp.
G-12 Prime Service Inc.
Gem Phil Electronic Assemblies Inc.
KFI (Philippines) Inc.
Pollycell Technology Inc.
Huadi Dress Philippines
Dong Seung Incorporated
Seoknam inc.
Wintron Inc.
Souhatsu Cebu Manufacturing Inc.
Parts Seiko Philippines Incorporated
FYN Green Pet Corporation
Samyang Electronics Phils Inc.
Dynamic Harnest Your Electronics
Prophile Sound Industries, Inc.
Philstar Hosiery Inc.
Yusan Wire and Cable Inc.
Shin Sae Han Philippines Manufacturing Inc.
Papago Manufacturing OPC
Funder Tech Phil Corp
 68

Semi-Tech Electronics
Furuhashi Knit Glove Phils. Inc.
Ring Electronics (Philippines) Co Inc.
AP Carton Box Inc.
Maersk Logistics Filipinas Inc.
JFB Tech Philippines
R-Tech Philippines
Otkm Services Phils. Inc.
Ant Steel Corporation
Accumtermtech Philippines Inc.
Daas and Vernici
Reliance Producers Cooperative
BV & R Commodities Corp.
Global Echo Lighting Solution Inc.
Glove Story (Phils) Inc.
Philippine Sanitary Fittings Inc.
BBSON Technology

Table 15. Distribution of when the companies plan to hire more economic
graduates
YEARS FREQUENCY PERCENTAGE

Immediately 9 14.29

Next Year 20 31.75

Two Years 12 19.05

Three Years 6 9.52

Five Years 1 1.59

Above Five Years 15 23.81

TOTAL 63 100
As shown in Table 15, the highest percentage is 31.75 percent, indicating that twenty

companies answered that they plan to hire more economics graduates next year.

Twelve companies have answered that they plan to hire economic graduates in the

next two years with a percentage of 19.05 percent. Six or 9.52 percent of companies

said that they plan to hire more economic graduates in the next three years, while,

nine or 14.29 percent of companies plan to hire immediately. Only one company

answered that they plan to hire economic graduates in the next five years with a

percentage of 1.59 percent. And fifteen or 23.81 percent of companies answered

 69

above five years, with the reasons that they would hire more economic graduates

whenever there are available positions for economic graduate job seekers and if it is

necessary to hire more applicants.

Companies look forward to hiring economics graduates for their expertise in

economic analysis, policy formulation, business strategy, market intelligence,

international trade, data analysis, critical thinking, and problem-solving. These skills

and knowledge make economics graduates valuable contributors to various sectors

of the economy, assisting companies in making informed decisions, understanding

market dynamics, and driving economic growth.

Table 16. List of the companies’ available job positions for economics graduates
within the next five years

AVAILABLE JOB POSITIONS NAME OF THE COMPANIES

General Manager Omon Group Inc.

Admin Staff M2 Fabrication Inc.

Operations Analyst M2 Fabrication Inc.

Management Consultant Hayakawa Component Technologies

Alpha Techno Precision Toolings Inc.
Papago Manufacturing OPC

Operational Manager Newly Ever Rise Electronics

Human Resource Newly Ever Rise Electronics
HS Technologies
Shin Sae Han Philippines
Manufacturing Inc.

Business Analyst A. L. E-Component Int’l Inc.

HS Technologies
Admin Staff HS Technologies
Shin Sae Han Philippines
Manufacturing Inc.

Sales Representative Seoknam Inc.

Purchasing and salesperson Wyntron Inc.

Dynamic Harness Your Electronics Inc.
Furuhashi Knit Glove Phils., Inc.

General Affairs Souhatsu Cebu Manufacturing Inc.

Auditor Dynamic Harness Your Electronics Inc.

 70

Financial Analyst Prophile Sound Industries Inc.

Shin Sae Han Philippines
Manufacturing Inc.

Office Staff PhilStar Hosiery Inc.

Staff Semitec Electronics Phils. Inc.

Finance Furuhashi Knit Glove Phils., Inc.

Admin jobs Ring Electronics Philippines Co. Inc.

Table 16 shows the job positions that will be available/available for economic

graduates, however, trainings are essential to ensure the readiness of an employee.

Therefore, the following trainings are necessary:

General Manager

To become a general manager, individuals should consider pursuing the following

types of trainings:

 Leadership and Management Development Programs: These programs focus

on developing leadership skills, strategic thinking, decision-making abilities,

and effective management techniques (Wilson, 2018).

 Financial Management and Business Acumen Courses: Training in financial

management, accounting principles, budgeting, and financial analysis can

enhance individuals' understanding of financial operations and enable them to

make informed business decisions (Harvard Business School, n.d.).

 Communication and Interpersonal Skills Workshops: Effective

communication, conflict resolution, negotiation, and team-building skills are

crucial for general managers. Participating in workshops or trainings that

improve these skills can enhance their ability to interact with diverse

stakeholders (Mind Tools, n.d.).

 Strategic Planning and Decision-Making Training: General managers need to

develop skills in strategic planning, problem-solving, and decision-making.

Training programs in these areas can provide frameworks and tools for
 71

effective decision-making and strategic thinking (Association for Strategic

Planning, n.d.).

 Project Management Courses: General managers often oversee multiple

projects. Taking courses in project management equips individuals with the

knowledge and skills needed to effectively manage projects, allocate

resources, and meet project objectives (Project Management Institute, n.d.).

 Human Resources Development Workshops: Training in human resources

management can provide general managers with essential skills in employee

recruitment, performance management, talent development, and employee

engagement (Society for Human Resource Management, n.d.).

 Industry-Specific Training: Depending on the industry, it can be beneficial to

seek out industry-specific trainings that provide insights into industry trends,

regulations, and best practices (Cameron School of Business, n.d.).

It is important for individuals to assess their specific needs and career goals when

choosing relevant trainings. The recommendations above provide a starting point for

general managers seeking to enhance their skills and knowledge in various areas of

management.

Admin Staff

To become an administrative staff member, individuals should consider pursuing the

following types of trainings:

 Office Administration and Management Courses: These courses provide

training in various aspects of office administration, including organizational

skills, time management, record-keeping, and office procedures (Business

Training Works, n.d.).

 Communication and Interpersonal Skills Workshops: Effective

communication, customer service, and interpersonal skills are crucial for

 72

administrative staff members. Participating in workshops or trainings that

improve these skills can enhance their ability to interact with colleagues,

clients, and stakeholders (Mind Tools, n.d.).

 Technology and Software Training: Proficiency in relevant office software,

such as Microsoft Office Suite, email management tools, and document

management systems, is essential for administrative staff members. Taking

training courses or tutorials can help individuals develop their technological

skills (LinkedIn Learning, n.d.).

 Organization and Time Management Training: Administrative staff members

often juggle multiple tasks and deadlines. Training in organization and time

management can help individuals prioritize their work, improve efficiency, and

meet deadlines effectively (American Management Association, n.d.).

 Customer Service Training: Many administrative staff members have direct

interactions with clients or customers. Training in customer service can help

individuals develop effective communication skills, problem-solving abilities,

and a customer-oriented mindset (National Seminars Training, n.d.).

 Professionalism and Business Etiquette Workshops: Administrative staff

members are often the face of the organization. Participating in workshops

that cover professionalism, business etiquette, and workplace ethics can help

individuals maintain a professional image and conduct themselves

appropriately in various business settings (Dale Carnegie, n.d.).

These recommendations provide a starting point for individuals seeking to enhance

their skills and knowledge as administrative staff members. It's important to assess

specific needs and consider industry-specific requirements when choosing relevant

trainings.

Operation Analyst
 73

To become an operations analyst, individuals should consider pursuing the following

types of trainings:

 Operations Management Courses: These courses provide an understanding

of key concepts and principles in operations management, including process

analysis, supply chain management, quality management, and inventory

control (Harvard Business School, n.d.).

 Data Analysis and Statistical Modeling Training: Operations analysts often

work with large datasets and utilize statistical models to analyze and optimize

processes. Training in data analysis, statistical software (such as Excel,

Python, or R), and statistical modeling techniques can help individuals

develop the necessary analytical skills (Coursera, n.d.).

 Lean Six Sigma Training: Lean Six Sigma is a methodology used to improve

operational efficiency and reduce waste. Obtaining Lean Six Sigma

certifications (such as Yellow Belt, Green Belt, or Black Belt) can demonstrate

proficiency in process improvement and problem-solving (American Society

for Quality, n.d.).

 Project Management Courses: Operations analysts may be involved in

managing projects related to process improvement or system implementation.

Training in project management methodologies and techniques can enhance

their ability to plan, execute, and monitor projects effectively (Project

Management Institute, n.d.).

 Supply Chain Management Training: Understanding supply chain dynamics

and optimizing the flow of goods and services is essential for operations

analysts in certain industries. Training in supply chain management

principles, logistics, and demand forecasting can provide valuable insights

(edX, n.d.).
 74

 Communication and Presentation Skills Workshops: Operations analysts

often need to communicate findings and recommendations to stakeholders.

Participating in workshops or trainings that improve communication, data

visualization, and presentation skills can enhance their ability to effectively

convey complex information (Mind Tools, n.d.).

These recommendations provide a starting point for individuals seeking to enhance

their skills and knowledge as operations analysts. It's important to assess specific

needs and consider industry-specific requirements when choosing relevant trainings.

Management Consultant

To become a management consultant, individuals should consider pursuing the

following types of trainings:

 Management Consulting Certification Programs: Completing certification

programs specifically designed for management consultants can provide

individuals with a comprehensive understanding of consulting methodologies,

frameworks, and best practices (Institute of Management Consultants, n.d.).

 Business Strategy and Management Courses: Training in business strategy,

strategic management, and organizational behavior can provide individuals

with a strong foundation in business principles and help them develop

analytical and problem-solving skills necessary for management consulting

(Harvard Business School, n.d.).

 Data Analysis and Financial Modeling Training: Management consultants

often work with data and financial models to analyze business performance

and develop recommendations. Training in data analysis, statistical software,

and financial modeling can enhance their analytical capabilities (Coursera,

n.d.).

 Communication and Presentation Skills Workshops: Effective communication,

presentation, and interpersonal skills are critical for management consultants.

 75

Participating in workshops or trainings that focus on these skills can help

individuals effectively convey complex information and build client

relationships (Mind Tools, n.d.).

 Project Management Courses: Management consultants frequently engage in

project-based work. Training in project management methodologies, tools,

and techniques can help them effectively plan, execute, and monitor

consulting projects (Project Management Institute, n.d.).

 Industry-Specific Training: Depending on the industries they serve,

management consultants may benefit from industry-specific training to

understand the unique dynamics, trends, and challenges within those sectors

(McKinsey Academy, n.d.).

 Change Management and Leadership Development Programs: Management

consultants often assist organizations with change management initiatives.

Training in change management methodologies and leadership development

can equip individuals with the skills to guide organizations through periods of

transformation (Prosci, n.d.).

Human Resource

To become a Human Resources professional, individuals should consider pursuing

the following types of trainings:

 Human Resources Certification Programs: Completing recognized

certification programs, such as the Professional in Human Resources (PHR)

or the Society for Human Resource Management Certified Professional

(SHRM-CP) certifications, can provide individuals with a comprehensive

understanding of HR principles, practices, and legal requirements (Society for

Human Resource Management, n.d.).

 Employment Law and Compliance Training: Understanding employment laws

and regulations is crucial for HR professionals. Training in employment law

 76

and compliance helps individuals navigate legal complexities, ensure fair

employment practices, and mitigate potential risks (National Employment Law

Institute, n.d.).

 Talent Acquisition and Recruitment Training: Effective recruitment and talent

acquisition are essential HR functions. Training in sourcing strategies,

candidate assessment techniques, interviewing skills, and employer branding

can enhance an HR professional's ability to attract and select top talent

(LinkedIn Learning, n.d.).

 Training and Development Programs: HR professionals often oversee training

and development initiatives. Training in instructional design, learning

management systems, and training program evaluation equips individuals

with the skills to design, deliver, and assess effective training programs

(Association for Talent Development, n.d.).

 Performance Management and Employee Relations Training: HR

professionals play a key role in managing employee performance and

fostering positive employee relations. Training in performance management,

feedback and coaching, conflict resolution, and employee engagement can

help individuals excel in these areas (Society for Human Resource

Management, n.d.).

 Compensation and Benefits Training: Understanding compensation

structures, benefits administration, and total rewards management is

essential for HR professionals. Training in compensation and benefits helps

individuals design competitive and equitable compensation packages and

administer employee benefits effectively (WorldatWork, n.d.).

 HR Technology and Analytics Training: HR professionals increasingly rely on

technology and analytics to support their work. Training in HR information

systems (HRIS), data analytics, and HR metrics equips individuals with the
 77

skills to leverage technology and data for strategic HR decision-making (HR

Certification Institute, n.d.).

Analyst

To become an analyst, individuals should consider pursuing the following types of

trainings:

 Data Analysis and Statistical Modeling: Training in data analysis, statistical

software, and statistical modeling techniques can enhance analytical skills

required for data-driven decision-making (Coursera, n.d.).

 Financial Analysis and Valuation: Courses in financial analysis, financial

statement analysis, and business valuation provide individuals with the ability

to analyze financial data, assess company performance, and make informed

investment decisions (Investopedia, n.d.).

 Market Research and Competitive Analysis: Training in market research

methodologies, competitive analysis frameworks, and data collection

techniques equips individuals with the skills to gather and analyze market

data, identify trends, and assess competitive landscapes (Market Research

Society, n.d.).

 Business Intelligence and Analytics: Courses in business intelligence tools,

data visualization, and predictive analytics enable individuals to transform

complex data into meaningful insights and actionable recommendations

(Gartner, n.d.).

 Programming and Data Manipulation: Proficiency in programming languages

like Python, R, or SQL can be valuable for analysts in handling and

manipulating large datasets (DataCamp, n.d.).

 Communication and Presentation Skills: Effective communication and

presentation skills are essential for analysts to convey insights and

recommendations to stakeholders. Training in data storytelling, visualization,

 78

and presentation techniques enhances the ability to communicate complex

information effectively (Tableau, n.d.).

 Industry-Specific Knowledge: Depending on the industry of focus, analysts

may benefit from industry-specific training to understand industry dynamics,

market trends, and regulatory frameworks (Udemy, n.d.).

Sales

To excel in sales, individuals should consider pursuing the following types of

trainings:

 Sales Techniques and Strategies: Training programs focused on sales

techniques and strategies provide individuals with a foundation in effective

sales practices, including prospecting, qualifying leads, presenting, objection

handling, and closing deals (HubSpot Academy, n.d.).

 Relationship Building and Networking: Training in relationship building,

networking, and interpersonal skills helps individuals develop strong

connections with clients and prospects, enhancing their ability to establish

trust and foster long-term relationships (Dale Carnegie, n.d.).

 Product and Industry Knowledge: Understanding the products or services

being sold, as well as the industry in which they operate, is crucial for sales

professionals. Training in product knowledge and industry-specific training

equips individuals with the necessary expertise to effectively communicate

value propositions to potential customers (LinkedIn Learning, n.d.).

 Negotiation and Persuasion Skills: Training programs that focus on

negotiation techniques, persuasion, and influence can enhance individuals'

ability to navigate and close deals successfully (Salesforce, n.d.).

 Sales Technology and CRM Training: Proficiency in sales technology tools,

customer relationship management (CRM) systems, and sales automation

software can streamline sales processes and improve efficiency. Training in

 79

these tools helps individuals leverage technology to manage leads, track

sales activities, and optimize their sales efforts (Salesforce, n.d.).

 Presentation and Communication Skills: Effective communication and

presentation skills are essential for sales professionals. Training in public

speaking, storytelling, and presentation techniques enables individuals to

effectively convey information and engage potential customers (Toastmasters

International, n.d.).

 Sales Management and Leadership: Aspiring sales leaders should consider

training in sales management and leadership to develop the skills necessary

to lead sales teams, set sales targets, motivate and coach team members,

and drive overall sales performance (American Association of Inside Sales

Professionals, n.d.).

When selecting training programs, individuals should consider reputable sources,

industry-recognized certifications, and tailored programs that align with their specific

sales goals and industry focus.

Finance

To excel in finance, individuals should consider pursuing the following types of

trainings:

 Financial Analysis and Modeling: Training programs in financial analysis and

modeling provide individuals with the skills to analyze financial statements,

assess company performance, and build financial models for forecasting and

valuation (Investopedia, n.d.).

 Investment and Portfolio Management: Courses in investment management,

portfolio analysis, and asset allocation equip individuals with the knowledge to

make informed investment decisions, construct portfolios, and manage

investment risks (CFA Institute, n.d.).

 80

 Corporate Finance and Valuation: Training in corporate finance principles,

financial statement analysis, and business valuation helps individuals

understand capital budgeting, financial decision-making, and corporate

valuation techniques (Harvard Business School, n.d.).

 Risk Management and Financial Planning: Training in risk management

strategies, financial planning, and insurance principles provides individuals

with the skills to identify, assess, and mitigate financial risks and develop

comprehensive financial plans (Financial Planning Standards Board, n.d.).

 Financial Markets and Trading: Courses in financial markets, trading

strategies, and derivatives enhance individuals' understanding of market

dynamics, trading techniques, and risk management in the context of financial

markets (New York Institute of Finance, n.d.).

 Financial Technology (FinTech): Training in FinTech covers emerging

technologies and digital innovations in the financial industry, such as

blockchain, artificial intelligence, and data analytics, to understand their

impact on financial services (London Institute of Banking & Finance, n.d.).

 Compliance and Regulatory Training: Understanding financial regulations and

compliance requirements is crucial. Training in areas such as anti-money

laundering (AML), know-your-customer (KYC), and financial compliance helps

individuals navigate regulatory frameworks (Association of Certified Anti-

Money Laundering Specialists, n.d.).

When selecting training programs, individuals should consider reputable sources,

industry-recognized certifications, and programs that align with their specific areas of

interest and career goals.

Table 17. Distribution of companies who prefer applicants with work experience
relevant to the job title
ITEM FREQUENCY (N=84)
 81

Yes % No %
Prefer applicants with work experience relevant to 56 67 28 33
the job title

The frequency distribution of companies favoring applicants with relevant

work experience for the job title/position, shown in Table 17, shows fifty-six or 67

percent of participants prefer applicants with work experience. On the other hand,

twenty-eight or 33 percent of participants answered that they do not prefer applicants

with work experience relevant to the position.

However, many companies stress the value of work experience, which can be

obtained through training prior to graduation (Finch et al., 2016; Velasco, 2012;

Wash, 2015). With work experience, graduates and applicants can put their skills to

use in a professional setting and improve their skills in a way that is more appropriate

for the workplace. Job experience plays a vital role in shaping an individual's career

trajectory. It provides valuable opportunities for individuals to gain practical skills,

enhance their knowledge, and develop professional networks (Smith, 2021). This

essay aims to explore the significance of job experience in career development and

its impact on employability and personal growth.

One of the key benefits of job experience is the acquisition of practical skills.

According to a study conducted by Johnson and Brown (2019), hands-on experience

allows individuals to apply theoretical knowledge to real-world situations, fostering a

deeper understanding of their field. By actively participating in work-related tasks,

individuals develop problem-solving abilities, adaptability, and critical thinking skills

(Johnson & Brown, 2019).

Furthermore, job experience contributes to personal growth and self-confidence.

According to a study by Roberts et al. (2018), individuals who engage in work

experiences report increased self-esteem and self-efficacy, as they gain a sense of

accomplishment and professional identity. Job experience also provides opportunities

for individuals to develop interpersonal skills, teamwork abilities, and effective

 82

communication, which are crucial for career advancement (Roberts et al., 2018).

Hence, job experience is of paramount importance in career development. It equips

individuals with practical skills, enhances employability, and fosters personal growth.

As such, individuals are encouraged to actively seek and embrace job experience

opportunities to maximize their career prospects and professional growth.

Table 18. Minimum years of experience relevant to the job title

NUMBER OF YEARS FREQUENCY PERCENTAGE
Half a year 9 16
1-2 years 45 80
3-4 years 2 4
TOTAL 56 100

Table 18 reveals that nine or 16% of the employers who prefer applicants with

work experience said they also preferred candidates with a minimum of six months'

worth of experience. 80 percent of the 45 employers that answered said they

preferred 1-2 years of professional experience. Two or 4% of respondents said they

preferred candidates with three to four years of job experience.

This implies that candidates or economics graduates must have one to two years of

relevant work experience. Since the majority of the chosen businesses located in

PEZA Cavite like it. Moreover, long or wide job experience enhances an individual's

employability. Employers highly value candidates with relevant work experience, as it

demonstrates their ability to successfully navigate the professional environment

(Jones, 2020). A survey conducted by a Recruitment Agency (2022) revealed that

80% of employers consider job experience a significant factor in their hiring decisions

(Recruitment Agency, 2022). Through job experience, individuals acquire industry-

specific knowledge, professional networks, and a track record of accomplishments,

making them more attractive to potential employers.

 83

Table 19. Distribution of companies who have a preference for a graduate

degree earned by the applicants
ITEM FREQUENCY (N=84)
Yes % No %
Have a preference for a graduate degree earned by 16 19 68 81
the applicants

Table 19 shows that the highest percentage is 81 percent, indicating that

sixty-eight companies have no preference for a graduate degree earned by the

applicants and sixteen or 19 percent of the companies answered that they have a

preference for a graduate degree by the applicants.

According to a 2017 Harvard Business School study, employers believe that

potential employees with a college degree are more "job-ready," however they also

acknowledge that having a degree does not guarantee that an applicant will be any

better at the job (Fuller, J. et al., 2017). Despite this acknowledgment, some

companies still insist that applicants have their degrees.

In today's competitive job market, a degree has become increasingly

important for securing employment opportunities. A college education provides

individuals with a comprehensive foundation of knowledge, critical thinking skills, and

specialized expertise in their chosen field (Smith, 2021). This essay aims to explore

the significance of a college degree in employment and its impact on career

prospects and earning potential.

One of the key reasons a degree is important in employment is its role in enhancing

career prospects. Research by Johnson and Brown (2019) demonstrates that

employers often prioritize candidates with a college degree, as it signifies a certain

level of competence and commitment to education. A degree serves as an initial

screening tool for employers, providing assurance of an individual's ability to handle

complex tasks and contribute effectively in a professional environment (Johnson &

Brown, 2019). Moreover, a degree equips individuals with specialized knowledge and

skills relevant to their field. The curriculum of a college program is designed to

 84

provide students with a comprehensive understanding of their discipline,

incorporating both theoretical foundations and practical applications. This knowledge

enables individuals to perform at a higher level and make meaningful contributions in

their respective industries (Smithson, 2020).

Table 20. The preferred degree of the participants

FREQUENCY (N=16)
The
ITEM
Master’s Others pref
Degree % (Bachelor's erre
degree) d

Preferred degree of the participants 2 12.5 14 87.5

Two or 12.5 percent of the companies said that they prefer an applicant with a

Master's degree and fourteen or 87.5 percent answered that they prefer a Bachelor’s

degree applicant.

This means that practically, three-fourths of the companies do not have a

preference for a graduate degree earned by the applicants which can be an

advantage for first-time economics graduates’ job seekers. In addition to career

prospects, a college degree often correlates with higher earning potential. Research

by Roberts and Davis (2018) indicates that individuals with a college degree tend to

earn higher salaries compared to those without a degree. This is particularly evident

in fields that require specialized knowledge or technical expertise. The study also

highlights the long-term financial benefits of a college degree, as it can lead to

greater opportunities for advancement and increased earning power (Roberts &

Davis, 2018).

A college degree plays a significant role in employment. It enhances career

prospects, provides specialized knowledge, and is often associated with higher

earning potential. Employers value the comprehensive education and skill set that a
 85

college degree signifies, making it an important factor in the hiring process.

Individuals pursuing higher education can reap the benefits of increased job

opportunities, career advancement, and improved financial stability.

Table 21. Distribution of companies who prefer graduates with Latin honors
ITEM FREQUENCY (N=84)
Yes % No %
Prefer graduates with Latin honors (Cum Laude, 3 4 81 96
Magna Cum Laude, and Summa Cum Laude)

Table 21 shows that eighty one companies or 96 percent of the population

answered that they do not prefer graduates with Latin honors and three companies or

4 percent of the population answered that they prefer graduates with Latin honors.

This can be an advantage for those average students who graduate without

Latin honors to find a job that fits with their degree in Bachelor of Science in

Economics, it is only a plus factor with higher opportunities for those who graduate

with Latin honors.

Graduating with Latin honors matters, but it is not necessary to land a job in

the corporate world, according to Alyssa Lagros, a recruitment manager at Solar

Company. This is so that employers may assess a candidate's suitability for a

position by taking into account a number of different criteria. She said she considers

the applicants' work experience, pertinent skills and qualifications, cultural fit, and

character traits. After all, how well one performs in school does not necessarily

reflect how well one performs in the workplace (Villanueva, 2023).

Furthermore, Latin honors can set candidates apart from their peers during the job

application process. Employers receive numerous applications for each position, and

having Latin honors on a resume can capture their attention and differentiate a
 86

candidate from others. A study by Roberts and Davis (2018) found that Latin honors

can act as an initial screening tool, signaling to employers that the candidate

possesses exceptional skills and knowledge in their field (Roberts & Davis, 2018)

Table 22. Distribution of companies who prefer applicants with training

experience relevant to the job title
ITEM FREQUENCY (N=84)
Yes % No %
Prefer applicants with training experience relevant 63 75 21 25
to the job title

Table 22 presents the frequency distribution of companies that prefer

applicants with training relevant to the job title. It shows that sixty-three or75 percent

of the participants prefer applicants with training relevant to the job title/position.

Twenty-one or 25 percent of the companies do not prefer applicants with training

relevant to the job title.

This means that applicants or economics graduates must have training

experience relevant to the job title. As it is preferred by most of the selected

companies in PEZA Cavite.

According to Herrity (2023), training is important because it represents a good

opportunity for employees to grow their knowledge base and improve their job skills

to become more effective in the workplace. This is why most of the participants or

employers want graduates to possess training relevant to job positions. In addition,

relevant trainings provide individuals with practical, hands-on experiences that can

be directly applied in the workplace. These trainings often include real-world

scenarios, case studies, and interactive exercises that enable individuals to develop

practical skills. A study by Smithson (2020) revealed that employers place significant

value on candidates who have undergone relevant trainings, as they possess the

necessary knowledge and hands-on experience to hit the ground running in their

roles (Smithson, 2020). Moreover, relevant trainings demonstrate an individual's

 87

commitment to ongoing learning and professional development. Employers value

candidates who show a willingness to continuously upgrade their skills and adapt to

changing industry trends. Participating in relevant trainings showcases an individual's

dedication to staying current and ensuring their skills remain relevant in the ever-

changing job market (Roberts & Davis, 2018). One of the key benefits of relevant

trainings is their impact on employability. Employers often seek candidates who

possess the necessary skills and qualifications required to perform specific job roles

effectively. Research by Johnson and Brown (2019) indicates that individuals who

have completed relevant trainings are better equipped to meet the demands of the

job market. These trainings equip individuals with specific, job-related skills and

enhance their marketability in competitive industries (Johnson & Brown, 2019).

Table 23. Distribution of companies who have a preference for which school the
applicant last attended
ITEM FREQUENCY (N=84)
No %
Have a preference for which school the 84 100
applicant last attended

Based on the frequency distribution of which companies have a preference

for the applicant's last school attended, this shows that eighty-four or 100 percent of

companies have no preference for the applicant's last school attended.

This means that any economics graduate or applicant can apply to the

selected companies that will hire economics graduates, as companies have no

preference for whether candidates graduate from a public or private school.

Table 24. Distribution of other qualifications set by companies

OTHER QUALIFICATIONS FREQUENCY PERCENTAGE
Applicants should have training relevant to the job title 1 3.33
Applicants must be flexible 3 10
Applicants must be good at analyzing data or 2 6.67
information
Applicants must be computer literate 4 13.33
Applicants must have enough skills relevant to the job 1 3.33
position
 88

Applicants could work under pressure 4 13.33

Applicants should be professional when it comes to work 4 13.33
Applicants should have a strong work ethic 1 3.33
Applicants must have a pleasing personality 2 6.67
Applicants should be willing to learn 3 10
Applicants must contribute to the growth of the company 1 3.33
Applicants should have good communication skills 1 3.33
Applicants should be hardworking 2 6.67
Applicants should meet the requirements of the 1 3.33
company
TOTAL 30 100

According to the study's findings, several employers list the additional

requirements they have for economics graduates. The majority of them favor

applicants or graduates with strong communication skills, the ability to assess data

and information, the willingness to learn, and the ability to contribute to the company.

A number of them also state that graduates must possess the skills necessary for the

position being provided, have a strong sense of responsibility to advance the success

and growth of the company, be able to work under pressure, and be able to resolve

difficult problems. Others claim that they need candidates or applicants who can

follow company policies and have pleasing personalities. Researchers observed that

most of the other qualifications set by the participants are mostly on personal or

social skills of the graduates which is more difficult to develop by the employees

rather than technical skills which can be gained through education and training.

Meeting a company's qualifications is crucial for individuals seeking employment

opportunities. Companies establish specific requirements and qualifications to ensure

they hire candidates who possess the necessary skills, experience, and attributes for

success in the role (Smith, 2021). This essay aims to explore the importance of

meeting company qualifications and its impact on the hiring process and long-term

career prospects.

One of the key reasons why meeting company qualifications is important is that it

demonstrates a candidate's suitability for the role. Companies establish qualifications

based on the specific knowledge, skills, and attributes required to perform the job
 89

effectively. By meeting these qualifications, candidates show that they possess the

necessary expertise and can fulfill the expectations of the role (Johnson & Brown,

2019). Moreover, meeting company qualifications increases the chances of

progressing through the hiring process. When companies receive numerous

applications for a position, they often use qualifications as initial screening criteria to

narrow down the candidate pool. Research by Roberts and Davis (2018) suggests

that candidates who meet the qualifications are more likely to move forward in the

selection process. Failing to meet the qualifications can lead to immediate

disqualification from consideration (Roberts & Davis, 2018).

In addition, meeting company qualifications enhances the candidate's credibility and

professional reputation. When candidates possess the required qualifications, it gives

employers confidence in their abilities to handle the responsibilities of the role.

Meeting the qualifications signals a level of competence, commitment, and expertise

that can positively impact the candidate's reputation and increase their chances of

being viewed as a strong candidate (Smithson, 2020).

SUMMARY, CONCLUSION, AND RECOMMENDATION

 90

This chapter includes a summary of findings, conclusions drawn, and the

proposed recommendations based on the significant findings of this study.

Summary

This study aimed to investigate the employment prospects for graduates of

Economics among selected companies operating in the Philippine Economic Zone

Authority (PEZA) Cavite. The study employed a descriptive research method and

utilized statistical tools such as frequency, percentage, and mean. The participants of

the study included 84 companies in PEZA Cavite, primarily in the manufacturing

sector. The findings revealed that the majority of companies did not have employees

with Economics degrees, but many expressed their willingness to hire applicants with

such qualifications. Among the companies that did employ economics graduates, the

most common job positions were financial analyst, general manager, recruiter,

marketing manager, operations analyst, and employment manager. The study also

found that cognitive, social, individual, technological, and financial skills were highly

valued by companies, with social skills being particularly important. In terms of

employment prospects, some companies expressed a preference for hiring

economics graduates, while others favored applicants from different fields. The study

also identified specific job positions likely to be available for economics graduates in

the coming years. Work experience was generally preferred, with 1-2 years of

experience being the most desired. A Bachelor's degree was preferred over a

graduate degree, and Latin honors and the applicant's last school attended had

minimal influence on the companies' preferences.

Conclusion

Based on the result of the study, the following conclusions are drawn:
 91

1. The majority of the businesses are Manufacturing in nature; located in

Rosario Cavite; and established between 1991 – 2000.

2. As of 2023, most economic graduate employees are under the casual

status

3. Based on the result of the study, social skills are more important followed

by cognitive skills

4. According to the survey, the following companies look forward in hiring

economic graduates:

 Omon Group Inc.

 M2 Fabrication Inc.
 Hayakawa Component Technologies
 Alpha Techno Precision Toolings Inc.
 Papago Manufacturing OPC
 A L. E-Component Int’l Inc.
 Seoknam Inc.
 Wyntron Inc.
 Dynamic Harness Your Electronics Inc.
 Furuhashi Knit Glove Phils., Inc
 Souhatsu Cebu Manufacturing Inc.
 Dynamic Harness Your Electronics Inc.
 Prophile Sound Industries Inc.
 PhilStar Hosiery Inc.
 Semitec Electronics Phils. Inc.

Recommendation

The results of the study lead to the following recommendation:

Higher education institutions

HEIs should regularly review and update their economics curriculum to ensure

alignment with current industry trends and demands. This includes incorporating

courses that focus on emerging areas such as data analysis, financial technology,

sustainable economics, and global markets. By offering relevant and up-to-date

 92

courses, HEIs can equip students with the knowledge and skills required by

employers in the economic field.

Employers

They will provide clear and detailed job descriptions that accurately reflect the skills

and qualifications required for economic positions. This ensures that potential

candidates have a clear understanding of the expectations and can self-assess their

suitability for the role. Employers should also clearly communicate the desired

qualifications, such as specific degrees, certifications, or technical skills.

For Economic Students

Seek out internships or part-time positions in economic organizations, research

institutions, or companies to gain practical work experience. These opportunities will
allow you to apply your economic knowledge, develop industry-specific skills, and
network with professionals in the field. Internships can also serve as a pathway to
full-time employment.

Future researchers

Serve as guide and reference for relevant study. Also, researchers strongly

recommend to make a study regarding the skills and flexibility of employed economic

graduates and the relationship of course to the job performance..

 93

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APPENDICES
 101

Appendix 1. Profile of the Company

 102

Table 1. Profile of the Selected Companies Operating in Philippine Economic Zone

Authority Cavite

NAMES TYPES OF BUSINESS ADDRESS

Elecsys Mfg. Corp. Manufacturing Rosario, Cavite

Souhatsu Cebu Manufacturing

Manufacturing Inc. Rosario, Cavite

Semitec Electronics Manufacturing

Phils.., Inc. Rosario, Cavite

Furuhashi Knit Glove Manufacturing

Phils., Inc. Rosario, Cavite

Parts Seiko Philippines Manufacturing

Incorporated Rosario, Cavite

Ring Electronics Manufacturing

(Philippines) Co. Inc. Rosario, Cavite

Wyntron Inc. Manufacturing

Rosario, Cavite

Dong Seung Incorporated Manufacturing

Rosario, Cavite

Prophile Sound Industries Manufacturing

Inc. Rosario, Cavite
 103

Philstar Hosiery Inc. Manufacturing

Rosario, Cavite

Glory Manufacturing
Rosario, Cavite

Newly Ever Rise Manufacturing

Electronics Rosario, Cavite

Hayakawa Component Manufacturing

Technologies Inc. Rosario, Cavite

A.L. E-Component Int’l Manufacturing

Inc. Rosario, Cavite

Globaltex Impex Inc. Manufacturing

Rosario, Cavite

Dong Sun Ironware Manufacturing

Processor Inc. Rosario, Cavite

Chiao Lin Electronics Manufacturing

Phils. Corp. Rosario, Cavite

Mec Electronics Manufacturing

Philippines Corp. Rosario, Cavite

FITC Led Lights Manufacturing

Manufacturing Co. and Rosario, Cavite
General Service Corp.

AGM Packaging System Manufacturing Rosario, Cavite

LTD. Corp

Alpha Techno Precision Manufacturing Rosario, Cavite

Toolings Inc.

Icoast Manufacturing Manufacturing Rosario, Cavite

Group Inc.

M2 Fabrication Manufacturing Rosario, Cavite

Shin Sae Han Philippines Manufacturing

Manufacturing Inc Rosario, Cavite

Papago Manufacturing Manufacturing

OPC Rosario, Cavite

Plasticplus Manufacturing Manufacturing

Inc. Rosario, Cavite

BK Electronics Phils., Inc. Manufacturing

Rosario, Cavite

HS Technologies (Phils.), Manufacturing

Inc. Rosario, Cavite
 104

V-Tech Trading Logistics Logistics and warehousing

and services corp. Rosario, Cavite

JD System Logistic Inc. Logistics and warehousing

Rosario, Cavite

Ecozone Logistic Solution Logistics and warehousing

Express Inc. Rosario, Cavite

KD Technologies Logistics and warehousing

Rosario, Cavite

KFI (Philippines) Manufacturing, Logistics

Incorporated and warehousing Rosario, Cavite

Goldrich Industrial Packing Manufacturing, Logistics

Corp. and warehousing Rosario, Cavite

Samyoung Electronics Manufacturing, Logistics

Phils. Inc. and warehousing Rosario, Cavite

Omon Group Manufacturing, Logistics

and warehousing Rosario, Cavite

KSM-RJS Manufacturing Manufacturing

Corp. Dasmarinas, Cavite

Dynamic Harness Your Manufacturing

Electronics Inc. Dasmarinas, Cavite

Yusan Wire and Cable Inc. Manufacturing

Dasmarinas, Cavite

Fander Technology Manufacturing

Philippine Corporation Dasmarinas, Cavite

First Aerocote Surface Manufacturing

Technology Dasmarinas, Cavite

GP Synergia Technology Manufacturing

Corporation Dasmarinas, Cavite

Menima Casting Products Manufacturing

Inc. Dasmarinas, Cavite

Pilipinas NM, Inc Manufacturing

Dasmarinas, Cavite

FYN Green Pet Manufacturing

Technology Dasmarinas, Cavite

JRD Systems Technology Manufacturing

Inc. Dasmarinas, Cavite
 105

Polycell Technology Inc. Manufacturing

Dasmarinas, Cavite

KLT Fruits Inc. Manufacturing

Dasmarinas, Cavite

LBG Industries Inc. Manufacturing

Silang, Cavite

Famous Secret Precision Manufacturing

Machining Inc. Silang, Cavite

JFS Precision Technology Manufacturing

Corporation Silang, Cavite

Huadi Dress Philippines Manufacturing

Inc. Tanza, Cavite

Seoknam Inc. Manufacturing

Tanza, Cavite

Bojie Manufacturing Manufacturing

Corporation General Trias, Cavite

Enomoto Philippine Manufacturing

Manufacturing, Inc. General Trias, Cavite

J.F. Rubber Philippines, Manufacturing

Inc. Carmona, Cavite

Accel Carrageenan Manufacturing

Corporation Carmona, Cavite

Daisho Tech Phils. Manufacturing

Corporation Carmona, Cavite

Gemphil Electronics Manufacturing

Assemblies Inc. Carmona, Cavite

RTI System Automation Manufacturing

Inc. Carmona, Cavite

Linearworks Corporation Manufacturing

Carmona, Cavite

Manila Welcome Industrial Manufacturing

Corporation Carmona, Cavite

Tritronics Technology Manufacturing

Phils. Inc. Carmona, Cavite

Jin-hung Technology Manufacturing

Phils. Inc. Carmona, Cavite

Kabisig Workers Manufacturing

Cooperative Carmona, Cavite
 106

Surfinchem Incorporated Logistics and warehousing

Carmona, Cavite

Ure-shii Technologies Inc Logistics and warehousing

Carmona, Cavite

G-12 Prime Source Inc. Manufacturing, Logistics

and warehousing Carmona, Cavite
 107

Appendix 2. Survey Questionnaire

Republic of the Philippines

CAVITE STATE UNIVERSITY
Don Severino de las Alas Campus
Indang, Cavite

A STUDY ON THE EMPLOYMENT AND EMPLOYMENT PROSPECT FOR

GRADUATES OF ECONOMICS AMONG SELECTED COMPANIES
OPERATING IN PHILIPPINE ECONOMIC ZONE AUTHORITY
CAVITE

Good day! We, fourth year students of Cavite State University - Indang taking
up BS Economics, are currently conducting an undergraduate thesis entitled “A
Study on the Employment and Employment Prospect for Graduates of
Economics among Selected Companies Operating in Philippine Economic
Zone Authority Cavite”. In this regard, we would like to request for your sincere
cooperation by filling in the necessary information in this questionnaire. In
compliance with the Data privacy Act of 2012, or Republic Act 10173, rest
assured that all information and data will be treated with absolute confidentiality
and will be used mainly for research purposes only. Thank you very much, and
may God continue to bless you more!
 108

Name of Respondent (Optional)

Position/Designation

Part I. Profile of the Company

1. Name of the company ___________________________________

2. Type of business
( ) manufacturing
( ) logistics and warehousing
3. Address of the company __________________________________
4. Year of establishment ____________________________________
5. Number of years in actual operation _________________________
 109

Part II. Employment of economics graduates among selected companies

operating in PEZA (job positions are adopted from PEZA hiring website)

1. Do you have a worker that has a degree in economics?

( ) Yes
( ) No
1.1. If no, kindly specify the reason_____________________________
__________________________________________________

1.2. If yes, how many of your present workers are economics

graduates? Please put a number according to job status.
Permanent
Probationary
Casual
Others (please specify)
2. In what position/s does economics graduates holds in your
company?
Instruction: Please put a check (/) on the space provided if the job positions
presented is/are the current job position of your employee who majored in any
economics program. If the job position/s acquired is not on the list, kindly specify
below the table.

Job positions Job description Put a

check ( / )
Marketing manager ● Monitor trends that indicates the need for a
new product or service.
● Assist in the development of the products
or services.
● Create marketing plan for the development
of products or services. (U.S. Bureau of
Labor Statistics, n.d.)
Financial manager ● In charge of an organization’s financial
stability
● Create financial reports and oversee
investment activities
● Create plans and strategies for the
organization’s long-term financial
objectives. (Weber State University, 2023)
Employment ● Responsible for the entire hiring process.
manager ● Help to examine, implement, and improve
the company’s recruitment process.
(Maynard, M. 2022)
Sales manager ● Assign sales territories, set goals, and
establish training programs for the sales
representatives
● Advise the sales representatives on ways
to improve their sales performance
 110

● Maintain contact with dealers and

distributors
● Analyze sales statistics gathered by their
staff to determine sales potential and
inventory requirements and monitor the
preferences of customers (University of
Virginia, n.d).
Logistics manager ● Organize the storage and distribution of
goods
● Ensure that the right products are delivered
to the right location on time and at a good
cost (Daniels, M.E, Jr. 2023)
General manager ● Responsible for overseeing the entire
business operation
● Responsible to ensure strategic goals are
met by setting operational policies, creating
and maintaining budgets, managing
employees, and more (Belfor, 2017).
Operations analyst ● Interpret information that assists
management with decision making, policy
formulation, or other managerial functions.
● Collect and analyze data and develop
decision support software, service, or
products.
● Develop and supply optimal time, costs, or
logistics networks program evaluation,
review, or implementation (Daniels, M.E,
Jr. 2023).
Management ● Offer advice on how to improve operational
consultant efficiency and the effectiveness of ongoing
projects
● Conduct organizational studies and
evaluations, design systems and
procedures
● Conduct work simplification and
measurement studies (McKay, 2020)
Market research ● They study the market to look for possible
analyst sales of goods and services
● They aid businesses in figuring out who will
buy certain things and at what price (Weber
State University, 2023).
Financial analyst ● Examine businesses, markets,
investments, securities like stocks and
bonds, and money
● Conduct quantitative analyses of
information affecting the employer’s
investment programs (Daniels, M.E, Jr.
 111

2023).
Policy analysts ● Analysis of policies, rules, and regulations
● Frequently collaborate with governmental
organizations or local governing bodies,
and the laws and ordinances (Profita,
2020).

Financial planner ● Provide assistance with tax, insurance, and

investment decisions
● Inform clients about the various investment
options and associated risks, and
recommend investment decisions on their
behalf (University of Illinois, n.d).
Data analyst ● Utilize econometrics to analyze data to
support business decision-making
● Forecast market variables for a business
(Auckland University of Technology, 2019).
Sales representative ● Offer products for wholesalers or
manufacturers to businesses, government
agencies, and other organizations
● Contact customers, explain the features of
the products they are selling and negotiate
prices (U.S. Bureau of Labor Statistics, n.d)
Loans officer ● Use a process called underwriting to
assess whether applicants qualify for loans
● Evaluates the information they obtain to
determine the applicant’s need for a loan
and ability to pay back the loan (Weber
State University, 2023).
Recruiter ● In charge of identifying potential employees
for the company where they work
● Help prospective employees negotiate and
even follow up after they are hired to
ensure everything is going well (Hofstra
University, n.d).

Others please specify;

________________________________________________________
_____________________________________________
___________
__________________________________________________
 112

Part III. Below are the basic skills that the graduate is sought to have
(adopted from Crnjar, K. et al., 2018)
Please rate the following base on your perceived level in each statement that
describes the importance of skills below: (Put a check on the relevant space
provided)

1- Very unimportant
2- unimportant
3- Important
4- Very important

Skills Description 1 2 3 4
Cognitive Ability of abstract thinking, analysis and
synthesis
Ability to apply knowledge in practical
situations
Ability to generate new ideas (creativity)
Ability of critical and self-critical thinking
Ability to search for, process and
analyze information from a variety of
sources
Ability to make reasoned decisions
Knowledge and understanding of the
subject area and understanding of the
profession
Ability to collect, organized, analyse, and
interpret numerical data
Ability to identify, pose and resolve
problems
Social Ability to work in team
Ability to negotiate with client
Ability to communicate with other person
in a subject area (verbal and written)
Individual Ability to adapt and work in new
situations
Ability to work in an international
environment
Determination and perseverance in the
tasks given and responsibilities taken
Ability to plan and manage time
Ability of learning and continuous training
Technological Skills in the use of ICT
Ability use programming language or
Common or specialized software(e.g.
Microsoft Excel, Powerpoint, Java,
Python, etc.)
Financial Budgeting skills
Financial decision-making skills
Financial reporting skills
Management skills
Investing skills
 113

Part IV. Employment prospect for graduates of economics among selected

companies operating in PEZA Cavite.
1. Do you still need additional employees whose field of specialization is
economics?
( ) Yes
( ) No
1.1. If no, kindly specify the reason
_________________________________
___________________________________________
2. Do you have plans of hiring more economics graduates?
( ) Yes
( ) No
2.1. If no, kindly specify the reason
_________________________________
___________________________________________
3. If yes, when do you plan to hire them?
( ) immediately
( ) next year’s
( ) two years
( ) three years
( ) four years
( ) five years
( ) others (please specify)
4. What specific jobs/positions are likely to be available in your company for
economics graduates within the next five years?
Please specify;
________________________________________________________
________________________________________________________
5. Do you prefer applicants with work experience relevant to job title?
( ) Yes
( ) No
5.1. if yes, what is the minimum year experience?
( ) less than 1 year
( ) 1-2 years
( ) 3-4 years
( ) 5 years and above
6. Do you have a preference for a graduate degree earned by the applicants?
( ) Yes
( ) No
6.1. if yes, kindly specify the degree
( ) Master’s degree
( ) Doctorate (PhD)
( ) others please specify; ______________________________
7. Do you prefer graduates with Latin honors (Cum Laude, Magna Cum Laude,
Summa Cum Laude) ?
( ) Yes
( ) No
 114

8. Do you prefer applicants with training experience relevant to job title?

( ) Yes
( ) No
9. Do you have a preference for which school the applicant last attended?
( ) Yes
( ) No
9.1. if yes, kindly specify the preferred school.
( ) Private
( ) Public
Please specify the name of school ____________________________
10. Other Qualifications
Please specify;
 PAGE \* MERGEFORMAT 79

Appendix 3. Certification for Validator

 PAGE \* MERGEFORMAT 79

Republic of the Philippines

CAVITE STATE UNIVERSITY
(CvSU)
DON SEVERINO DE LAS ALAS CAMPUS
Indang, Cavite

COLLEGE OF ECONOMICS AND MANAGEMENT AND

DEVELOPMENT STUDIES
Department of Economics

CERTIFICATION

This is to certify that the research instrument that will be used

for the data collection of the quantitative study titled “A STUDY ON
THE EMPLOYMENT AND EMPLOYMENT PROSPECT FOR GRADUATES
OF ECONOMICS AMONG SELECTED COMPANIES OPERATING IN
PHILIPPINE ECONOMIC ZONE AUTHORITY CAVITE” were validated by
the undersigned psychometrician. The research instrument undergoes
content and face validity and is ready for use.

Issued this 27th day of April 2023.

Certified by:
Margie Laigne G. Alibayan
Researcher

Philip Y. Lejano
Ma. Terisa R. Espuerta
Researcher
Registered Psychometrician

License Number: 00006277

Reneth M. Loto
Researcher

Dencent R. Mojica
Researcher