Why is Unemployment high in the Philippines? As a result of the global economic crisis, which drastically cut our exports and slowed down our OFW overseas Filipino workers remittances, Philippine economic growth in GDP gross domestic product terms which was registered at 7. Despite the slowing down of the domestic economy, however, Philippine unemployment rate remained at almost the same level as it was before the current crisis. These do not differ very …show more content… Even with the recession, and contrary to the expectation of many observers of the economy, both local and international, the number of reported jobless Filipinos going out is still increasing although not at the same rate as before. My explanation is that firms in the receiving country favor our OFWs because of their willingness to do any kind of work even for the smallest pay.
Essays on Unemployment
Causes Of Unemployment In The Philippines - Words | Cram
Typically, one does not think about unemployment being a social problem, unless you are someone that is unemployed or has experienced unemployment. Unfortunately, unemployment is becoming a serious social problem today in society. Many people who happen to be unemployed are more than capable of working they just do not have the proper experience or flexibility that a job requires. Many are also unemployed because there are not enough jobs for everyone. The unemployment rate is rising every day and the something needs to be done to stop this.
Causes Of Unemployment In The Philippines
To employers raise in minimum wage saves them a lot on recruiting employees and invest money on their training. Existing workers will be more experienced to increase the efficiency of the business than the new workers. As a result, customers will be more relax about the service. Whereas, to the country the tax will be increased by large amount of money which can help to give free of cost services to workers such as free education, free electricity, free medical, which will again motivate the worker to work hard. The most important thing the GDP of the country will increase and will help the government a lot to pay of the loans as soon as possible before more interest to be.
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