Rey Carl V.

Lontayao Economics 1 TTh 10:30-12:00pm

Labor and Employment

As of what I have learned in the topic that the most vital part of an economy to develop is
its labor force without it a country can never change or develop, as the reporter reported on
this topic I have realized that our country Philippines have not really yet develop although
you can say its changing and developing inch by inch.... but its not really developing well
like other Asian countries do, the Philippine island is a rich diverse country, with many
natural resources and useful materials for a developing country that’s why many foreigners
envy this land for it’s natural features but the real story is... what will you do to a rich land
and sea when it is mal used and misgoverned?
In connection with the topic - labor problems exist, just like a high rate of unemployment
and underemployment of those Filipino workers and some are receiving inadequate wages
or unfair practices between the employees rate of pay for example just like a organization
that pays a higher rate on consultants than their workers who is the company’s vital asset,
receiving a low rate of pay.
That some point it will lead to a industrial and labor management conflict leading to strikes,
lockouts or even violence between the employers and employee. Another thing that I have
realized and learned in this topic is the economic insecurities that the Filipino employee are
experiencing from their work, insecurities to threats of there job nor not really having a
security of what’s going to happen next if there will be emergency cases like medical
expenses, calamity or sudden emergencies that may appear, because they are just
receiving a adequate wages or salary.
Although some organizations are now creating a better way to solve the problem of labor or
labor problems, jus like government interventions and labor and trade or laws that protect
the right of the employer or employee. Still the country is in this situation of losing its
resources, deterioration of it’s living standards, an increase on it’s unemployment rate and
as well as the losing edge of the labor force or productivity of the country.
In this realization of what I learned in the topic and of the chapter the Philippines is far from
the true development of what are the Philippine labor are perceiving.