Labor and Employment

Labor and Employment

Two sides of Labor and Employment Labor is one of the resources used in production, making the goods and services we need. Employment provides most of us with the incomes we need to purchase goods and services

A Working Definition of Unemployment

-People able, available and willing to find work and actively seeking work but not employed

Economic and Social Costs of Unemployment

The private costs for the unemployed Loss of income

Increased health risks

Stress Reduction in quality of diet Social exclusion because of loss of work and income

Loss of marketable skills (human capital) and motivation

The longer the duration of unemployment, the lower the chances of finding fresh employment - the unemployed become less attractive to potential employers

20 Century Trends
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Large drop in % employment in agricultural sector over century Large drop in % employment in manufacturing sector over end of century Large increase in service sector % employment

Unemployment Rates
% Unemployed = Number unemployed ---------------------------------- * 100 Number in the labor force

Can We Have 0% Unemployment?

Economists believe that it is not possible

Philippine Situation
Labor and Employment

Overview
Unemployment, which had averaged about 4.5 percent during the 1970s, increased drastically following the economic crises of the early 1980s, peaking in early 1989 at 11.4 percent. Urban areas fared worse; unemployment in mid-1990, for example, remained above 15 percent in Metro Manila.

Overview
Underemployment has been predominantly a problem for poor, less educated, and older people. The unemployed have tended to be young, inexperienced entrants into the labor force, who were relatively well educated and not heads of households.

Overview
According to the Global Call to Action Against Poverty-Philippines (GCAPPhilippines)2 in October of 2007, sixteen (16) million workers are poor, with each earning only P41 per day. The group claimed that the workers low income, combined with the skyrocketing prices of goods and services, fuels the rising poverty and hunger in the country.

Employment Statistics

21st Century Skills

21st Century Work Environment

Due to rapidly changing dynamics facing the 21st Century, new skills, regardless of what they are called, will be needed for every man, woman and child to address the economic, social, political and citizenship challenges that await them. Business success will demand a

New Context
Global Competition: Global Cooperation:

Skills Required
Global Awareness Self-Direction Global Awareness Collaboration Information & Communication Technology (ICT) Literacy Information Literacy Critical Thinking Problem Solving Critical Thinking & Problem Solving Innovation & Improvement Flexibility & Adaptability Communication Skills Life and Career Awareness Skills

Information Growth:

More Jobs & Careers:

Growing Service Economy:

Why are 21st century skills so important? What skills are most important for job success when hiring a high school graduate?
Work Ethic Collaboration 80% 75% 70% 63% 58% Good Communication Social Responsibility Critical Thinking & Problem Solving

Why are 21st century skills so important?

Of the high school students that you

recently hired, what were their deficiencies?

Written Communication Leadership Work Ethic Critical Thinking & Problem Solving Self-Direction

81% 73% 70% 70% 58%