Current State of the Philippines Labor Market
Philippine is one of the Asia leaders in terms of advanced labor codes. The country has a very rich labor market, but the sad thing is that the country cannot sustain the job demands of the ever growing labor force. This is primarily the reason why the Philippines workforce is being sent overseas to seek better employment. The number of Filipino overseas workers continues to increase and most of them are working in the Middle East, United States, Canada, Europe and other Southeast Asian countries.
Thousands of professionals left the country to seek better employment and greener pasture. Doctors, nurses, engineers, and teachers are forced to work overseas in order to supplement the needs of their family. There are also skilled professionals working in different industries such as information technology, factory, and so on. This has become the set up for Philippines labor market for the past decades.
As new investors decided to venture their business in the Philippines, potential growth in the labor market was seen. The business process outsourcing was able to give thousands of jobs to unemployed Filipinos. As a matter of fact, even employed people shifted to BPO industry because it has a better pay. With the hand in hand effort of the current Aquino administration, the socio-economic status of the Philippines has significantly improved. A lot of Filipinos were able to land a decent job.
The trend of Filipinos working overseas is still there, but the Philippine government makes sure that every Filipino working overseas will be protected against all forms of violence. Filipinos are industrious, dedicated, and passionate to their work and this is one of the reasons why the Philippine labor market is outsourced in different parts of the world. When it comes to globally competitive labor market, no one can really beat Filipinos.