On the Value of a Degree in the Philippines Essay

The employment chances of a fresh college graduate is only 4 in 10, with only 1 in that 4 attaining work relevant to cardinals course. heretofore in light of the unprecedented growth of 6. 6% in gross domestic product over the last year, the comminute sector fails to follow suit in what economists characterize as a meditate-shedding growth. So where does a college degree tail us? With the increased pressures on the youth to attend college, many handle the existence of a richlyer education bubble.The concept hypothesizes, in part, that movements in factors such as tuition payments and unemployable graduates severely decrease the tempo of return to a college degree up to a point where it is rendered useless. In the case of the Philippines, effective capping of tuition fees to relatively affordable rates, spaces us from a bubble as of yet. However, it is to be stressed that with everyone jumping in the college waggon every at once as is app atomic number 18nt now we entrus t soon find college degrees as no more(prenominal) useful than scratch, and thus the true bubble begins.There are too many college graduates. wholly college students should be aware that although a degree does open doors it loses much of its cheer as more and more people achieve this accolade. In 2012, a total of 517,425 college students graduated and entered the labor force. With another half a gazillion expected to graduate in March this year, there is increasing have-to doe with on their place in the labor market. The number of graduates increase over the historic period, however professions increase terribly less, if they increase at all 882,000 channels were inform to have disappeared in 2012.Since too many people compete for the equal job, employers can afford to lower wages or increase qualifications as much as possible. This is apparent in the over qualification of near jobs now supermarket baggers or janitors are expected to have had some years of college or e ven graduated the same, as opposed to the minimum of high school undergraduate in most other countries. College courses are shy(predicate) or incompatible with jobs offered in the market. The Department of Labor and Employment (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 suppose they deserve or were trained for in those four or more years of education. To add, even once employed underemployment lingers tainting up to about 7. 2 million job matches with insufficient base pay as important culprit. Nearly everyone believes a college education is essential.In our society, the college degree has been stigmatized as the topper and surest and sometimes only path to take in preparation for ones career. This is contestable however as evidenced in European countries where entrepreneurship and technical education are much more popular and utile paths than college. The Philippines doesnt necessarily lack these options, (i. e. TESDA) quite a we lack awareness and affable approval for these said alternatives. Solutions De-emphasize the necessity of a college degree.The higher education system of countries like Germany, remain stable and un-depreciated, since non-professional or non-corporate jobs are super popular and equally regarded with college education. Removing the stigma of a college degree can keep open pressure on prices and rates of return to higher education. Therefore, introducing and popularizing technical courses which are actually highly demanded can solve much of the Philippine labor problem. Redesigning colleges and curriculums to incorporate in-demand jobs. Supply may be easier adjusted to cope with the requirements of demand, rather than the other way around.Close association with firms accompanied by an avail of course curriculums to better suit the needs of employers can effectively centre mismatch. Administrators and faculty should understand the factors at work in how their programs are deprecating since if the market for college degrees becomes over-saturated we will all pay the price of meaningless degrees and light opportunity for many in the workplace. Many experts and opinions point to the governments futile efforts at job creation (i. e. demand) as the main competitor in this story. However, the equally policy-relevant yet rarely focused upon supply nerve 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 refinement of inclusive growth. Reference high Education Bubble Will Burst, whitethorn 3, 2011 http//www. usnews. com/education/blogs/the-college-solution/2011/05/03/higher-education-bubble-will-burst, Accessed February 11, 2013 The 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? section=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.