Sunday, November 10, 2013

4 Reasons Why Filipino College Graduates are Unemployed or Underemployed

John hails from a poor rural area in Estancia. He was born into a family of ten with farming as the main source of livelihood for his family. His father’s father was also a farmer so if he were to inherit that, he will also be a farmer.

He saw what it was like for his family to wake up in the wee hours of the morning just to tend to their farm. Sometimes, harvest was bountiful. Sometimes, they go hungry because of natural disasters that ravage their town.

He then thought to himself, “Why should I be dependent on farming when we toil the land to provide food for Ilonggos and yet we starve.” That was the breakthrough that he decided to become the first professional in his family. He became a working student in Northern Iloilo Polytechnic College. Despite the odds, he was able to finish his degree in Education.

After graduation, he believed that this will be the time he can help his family. But, with the overproduction of teachers like him and with so many limited schools or schools with limited budget, he cannot practice his profession.
With no school to teach, he applied to other jobs that were not aligned with his degree.

John is now a statistic. He belongs to the underemployed.

Many Pinoys have a dream. The dream is to provide for your family:  to give them the best that they can have, to have a house they can comfortably live in, to have a car for convenience, to travel whenever one wants to travel.

Thus, this is the reason why many proceed to obtain a college education as education is the means where they can help their families. Or is it really?

Pinoy College Graduates now belong to the new era of employment where there is a mismatch of courses with the required skills in the workplace. There is also a lack of jobs that is in line with their chosen profession. There are also graduates who are employed but are underemployed (this means they are practicing their profession but they are underpaid). This is the reality wherein Pinoys have to face this decade and in the decades to come.

Here are the reasons why Pinoy college graduates are unemployed or underemployed:

1.       Unemployment rate inches up to 7.3% in July 2013. The National Statistics Office conducted the latest survey about the labor force. There was a decrease by 1.6 percent in the number of wage and salary workers in July 2013 compared to the same period in 2012.

2.       The law of supply and demand is at work. If there is a large supply of workers, then employers can decrease the salary they give to workers. They have a wide pool of workers to choose from, so why should employers worry?  Employers can always give the minimum wage thereby maximizing their profit.

3.       Sixteen out of 100 graduates are unemployed. This is the data from the National Statistics Office as of January 2013.

4.       The Philippine economy can only generate 900,000 jobs annually. The average number of graduates per year is 500,000. That means that there will still be other graduates of the previous years who will be competing with the new graduates for jobs. Just think of Darwin’s Survival of the Fittest.

This shows how grim the economy of the Philippines is in terms of employment.

If you are like John who dreams of a better future for your family, yet you belong to the great unemployed of the Philippines’working force, there are better ways than being employed. Just send me an email or text me through my phone number. I can show a system that can help you reach your dreams and not be part of the unemployed of Pinoys.

To Your Financial Success!

Lornajane Altura


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