Unemployment in the Philippines is attributed to reasons including overpopulation, oversupply of labour force on certain industries and the inability to take on available jobs.
Then, how is unemployment caused?
Unemployment is caused by various reasons that come from both the demand side, or employer, and the supply side, or the worker. Demand-side reductions may be caused by high interest rates, global recession, and financial crisis. From the supply side, frictional unemployment and structural employment play a great role.
Also question is, is unemployment is a serious problem of a country?
Unemployment is first and foremost an economic and social problem since it brings about costs for the unemployed as well as the society as a whole. Labor not used for production purposes means permanent output loss and decrease of consumption. … Hence, unemployment gets qualified as a serious personal and social issue.
What are two reasons for unemployment?
Causes of unemployment
- Frictional unemployment. This is unemployment caused by the time people take to move between jobs, e.g. graduates or people changing jobs. …
- Structural unemployment. …
- Classical or real-wage unemployment: …
- Voluntary unemployment. …
- Demand deficient or “Cyclical unemployment”
What is the most common job in the Philippines?
The Most Popular Jobs in the Philippines
- General Accountant. Every companies and individuals who engage in business need an accountant to do their financial recording and reporting. …
- Call Center Agent. In recent years call centers companies in the Philippines are booming. …
- Accounting Clerk. …
- Domestic Helper. …
- Sales Clerk.
What is the percentage of unemployment in the Philippines?
Why is it important to study unemployment and underemployment in the Philippines?
Unemployment and underemployment are the Philippines’ most important problems and the key indicators of the weaknesses of the economy. … The social costs of this mass unemployment range from income losses to severe social and psychological problems resulting from not having a job and feeling insecure about the future.