Monday, March 4, 2019
On the Value of a Degree in the Philippines Essay
The employment chances of a fresh college alum is whole 4 in 10, with exclusively 1 in that 4 attaining work relevant to ones course. Even in brightness level of the unprecedented growth of 6. 6% in GDP over the farthest year, the labor sector fails to follow suit in what economists characterize as a telephone line-shedding growth. So where does a college degree tooshie us? With the ontogeny pressures on the youth to attend college, some(prenominal) consider the existence of a higher procreation card-house.The concept hypothesizes, in part, that movements in factors such as tuition payments and unemployable calibrates severely decrease the rate of return to a college degree up to a point where it is rendered useless. In the case of the Philippines, impressive capping of tuition fees to relatively leaveable rates, spaces us from a bubble as of yet. However, it is to be stressed that with everyone jumping in the college wagon all at once as is apparent now we result soo n rule college degrees as no more useful than scratch, and then the true bubble begins.There are too many college graduates. All college students should be informed that although a degree does open doors it loses much of its value as more and more people achieve this accolade. In 2012, a total of 517,425 college students calibrated and entered the labor force. With another half a million expected to graduate in March this year, there is increasing concern on their place in the labor market. The number of graduates increase over the years, however jobs increase terribly less, if they increase at all 882,000 jobs were reported to have disappeared in 2012.Since too many people compete for the same job, employers can afford to lower wages or increase qualifications as much as possible. This is apparent in the over qualification of some jobs now supermarket baggers or janitors are expected to have had some years of college or sluice graduated the same, as opposed to the minimum of high school undergraduate in most other countries. College courses are insufficient or uncongenial with jobs offered in the market. The Department of Labor and commerce (DOLE) holds job and livelihood fairs across the country, recently offering a total of 360,777 job vacancies.But on a nationwide count only 5,101 job applicants were hired on the spot. In another attempt, the government posted in its Phil. JobNet website 230,000 jobs but only 117,000 applied. Apparently, the jobs created by the government are inconsistent with what graduates believe they deserve or were trained for in those four or more years of education. To add, nevertheless once employed underemployment lingers tainting up to about 7. 2 million job matches with insufficient base pay as main culprit. Nearly everyone believes a college education is essential.In our society, the college degree has been stigmatized as the best and surest and sometimes only path to take in preparation for ones career. This is shakable however as evidenced in European countries where entrepreneurship and technical education are much more popular and profitable paths than college. The Philippines doesnt inescapably lack these options, (i. e. TESDA) rather we lack awareness and social approval for these give tongue to alternatives. Solutions De-emphasize the necessity of a college degree.The higher education system of countries identical Germany, remain stable and un-depreciated, since non-professional or non-corporate jobs are exceedingly popular and evenly regarded with college education. Removing the stigma of a college degree can relieve pressure on prices and rates of return to higher education. Therefore, introducing and popularizing technical courses which are actually highly trained can solve much of the Philippine labor problem. Redesigning colleges and curriculums to incorporate in-demand jobs. leave may be easier adjusted to cope with the requirements of demand, rather than the other behavior around.Close association with firms accompanied by an overhaul of course curriculums to soften suit the needs of employers can effectively reduce mismatch. Administrators and faculty should bring in the factors at work in how their programs are depreciating since if the market for college degrees becomes over-saturated we will all pay the price of meaningless degrees and poor opportunity for many in the workplace. Many experts and popular opinions point to the governments futile efforts at job creation (i. e. demand) as the main antagonist in this story. However, the equally policy-relevant yet rarely focused upon supply side of labour mayoffer other, more easily interceded directions. Solving the Philippines problems on labour is a tall order however attacking from all sides both demand and supply can better efforts towards the nationwide goal of inclusive growth. extension service Higher Education Bubble Will Burst, May 3, 2011 http//www. usnews. com/education/blog s/the-college-solution/2011/05/03/higher-education-bubble-will-burst, Accessed February 11, 2013 The note value of a Degree, May 06, 2011 http//www. popecenter. org/commentaries/article. html? id=2517, Accessed February 11, 2013 Joblessness How deep, what needs to be done?, February 06, 2013.http//www. bworldonline. com/content. php? arm=Opinion&title=Joblessness-How-deep,-what-needs-to-be-done? &id=65457, Accessed February 11 ,2013 For inclusive growth Jobs with higher wages, February 9, 2013 http//www. philstar. com/opinion/2013/02/09/906642/inclusive-growth-jobs-higher-wages, Accessed February 11 ,2013 Oversupply of Unemployable Graduates, January 23, 2010 http//planetphilippines. com/migration/a-disastrous-oversupply-of-unemployable-graduates, Accessed February 11 ,2013 Bureau of Labor and Employment Statistics Commission on Higher Education.