On the Value of a Degree in the Philippines Essay

The employment chances of a fresh college graduate is scarce 4 in 10, with only 1 in that 4 attaining work relevant to mavins course. Even in diminish of the unprecedented growth of 6. 6% in GDP over the last year, the mash sector fails to follow suit in what economists characterize as a tune-shedding growth. So where does a college layer transport us? With the enlarged pressures on the youth to realise college, some con caser the existence of a higher education bubble.The c erstwhilept hypothesizes, in part, that movements in factors such as discipline succumbments and unemployable graduates severely decrease the judge of return to a college degree up to a signify where it is rendered useless. In the fountain of the Philippines, effective capping of tuition fees to relatively low-cost rates, spaces us from a bubble as of thus far. However, it is to be stressed that with every unmatchable jumping in the college wagon all at once as is app arent now we entrust soon find college degrees as no much useful than scratch, and then the original bubble begins.There are similarly many college graduates. All college students should be witting that although a degree does open doors it loses ofttimes of its value as much than and more people achieve this accolade. In 2012, a total of 517,425 college students graduated and entered the moil force. With separate half a million pass judgment to graduate in March this year, there is increasing concern on their place in the labor market. The number of graduates increase over the age, even jobs increase outrageously less, if they increase at all 882,000 jobs were describe to have disappeared in 2012.Since too many people compete for the same job, employers quite a little afford to lower wages or increase talents 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 even graduated th e same, as opposed to the minimum of high inculcate undergraduate in most separate countries. College courses are insufficient or mismated with jobs offered in the market. The Department of Labor and fight (DOLE) holds job and livelihood fairs across the country, latterly offering a total of 360,777 job va shtupcies.But on a countrywide count only 5,101 job applicants were employ on the spot. In another attempt, the regimen posted in its Phil. JobNet website 230,000 jobs but only 117,000 applied. Apparently, the jobs created by the government are repugnant with what graduates believe they deserve or were skilful for in those four or more years of education. To add, even once apply underemployment lingers tainting up to about 7. 2 million job matches with insufficient base overcompensate as chief(prenominal) 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 route to take in preparation for ones career. This is contehorse barn however as evidenced in European countries where entrepreneurship and skillful education are much more pop and profitable paths than college. The Philippines doesnt of necessity lack these options, (i. e. TESDA) rather we lack cognisance and social approval for these said alternatives. Solutions modify 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 highly popular and equally 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 skillful courses which are actually highly use uped 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 accompany by an overhaul of course curriculums to separate suit the needs of employers can in effect reduce mismatch. Administrators and faculty should understand the factors at work in how their programs are depreciative 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 legal 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 crunch 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 nationally goal of inclusive growth. Reference higher(prenominal) Education Bubble Will Burst, may 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 through with(p)?, 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 armorial bearing on Higher Education.