Philippine Issue: Unemployment of Many Filipino Citizens

 By: Mart Jomer A. Trentado

The Philippines most serious challenges are unemployment and underemployment, which are crucial indicators of the economy's shortcomings. Around 4 million employees (around 12% of the labor force) are currently unemployed, while another 5 million (roughly 17% of those employed) are underemployed. So, Basically, This Reserve Army of workers reflects the state of the economy, particularly its inability to supply jobs (especially in the formal sector) for the country's increasing labor population. The societal costs of widespread unemployment range from lost wages to significant social and psychological issues caused by a lack of employment and uncertainty about the future. Overall, it results in significant social inefficiencies. 

The Pandemic has had a significant impact on people's health, jobs, and rights. The Duterte administration's weak pandemic response appears to have exacerbated Filipinos' suffering rather than alleviated its social and economic consequences. According to the government's labor force survey from February 2021, the unemployment rate is 8.8% or 4.2 million people. During the first implementation of Enhanced Community Quarantine in April 2020, the highest unemployment rate was recorded at 17.6%. Aside from the large layoffs of personnel from closed businesses, thousands are placed on 'floating status.' During the pandemic, workers are on a "no work, no pay" basis. They are officially not counted among the unemployed since they are waiting for businesses to "recover" before returning to work. The Department of Labor and Employment granted a one-year extension of the floating status, which had previously been limited to six months.

To combat unemployment, it is critical to raise people's educational levels, making it simpler for them to find work. To achieve effective educational progress, this education should begin early in school, and teachers should pay great attention to and care for each kid. In the literature, a variety of additional solutions to the unemployment problem have been proposed. Worksharing, early retirement, and reduced migration, These policies have an impact on the labor market by reducing labor supply.

Small and marginal farmers should be provided with services such as irrigation, better seeds, manures, implements, financing, and so on. Self-employed people in metropolitan areas should also be provided with loans, marketing, raw materials, technical training, and other services. Also, The government may grant employment subsidies to businesses that recruit unemployed workers. Firms' production costs fall when they receive a subsidy because the price of each unit of labor resource falls. As a result, firms will be more willing and able to hire more workers, increasing the number of workers available. This helps to minimize unemployment by increasing the size of the workforce and the number of job openings. However, determining how much subsidy to pay and ensuring that enterprises are willing to retain the expanded size of their personnel when the economy shifts are tough for governments (eg. Recession).

Providing government training programs to the structurally unemployed, paying subsidies to firms that provide training to displaced workers, assisting the structurally unemployed in relocating to areas where jobs are available, and incentivizing prospective workers to continue or resume their education are all policy suggestions for reducing structural unemployment. As a result, the government can sponsor retraining programs for the unemployed so that they can improve or learn new skills that will help them find work. Another option for the government to handle the problem of unemployment is to maintain economic growth.

I'm happy and proud to be a Filipino even though We are facing Different issues in the Philippines, Seeing every Filipino willing to assist one another is amazing and makes me happy to be a Filipino. Beyond our endurance, adaptability, and courage in the face of adversity, Filipinos have demonstrated that we are also extremely kind, selflessly enthusiastic, and always willing to assist anyone in need. We Filipinos can be proud of our adaptability in addition to our ingenuity. We are extremely adaptable to new individuals, cultures, and situations, which contributes to our overall well-being. We not only bond with fellow Filipinos while abroad, but we also adapt well to different cultures and individuals.