Baskadia

| EDITORIAL

Education is often heralded as the golden ticket to success, but the harsh reality facing degree holders is the fact that after graduation starts the infinite waiting time to be employed. It is also known as the period of being "tambay," as it is colloquially known in the Philippines. This phenomenon underscores a profound disconnect between academic achievement and economic opportunity, challenging the notion that higher education guarantees a stable future.

Graduating with a degree is a significant milestone, encapsulating years of hard work, sacrifice, and the pursuit of knowledge. Yet, for many, this achievement does not translate into immediate employment. According to the Philippine Statistics Authority (PSA), the unemployment rate among college graduates in the country was 4.3% in 2023, which was equivalent to 2.17 million unemployed Filipinos, challenging the job market for degree holders. Fresh graduates find themselves in a limbo of underutilized potential, struggling to secure positions that fit their qualifications. The reasons behind this disparity are multifaceted and deeply entrenched in both structural and economic factors. While a diploma is often seen as a ticket to success, the harsh reality is that "diskarte"—the ability to navigate opportunities creatively—can sometimes outweigh formal education in securing employment. This raises a crucial debate about whether academic credentials or practical ingenuity is more valuable in the current job market.

The job market is often saturated with graduates, particularly in fields that are popular yet undervalued, like Information Technology, Business Administration, and Tourism and Hospitality. These fields are frequently dismissed with the condescending notion of "Tourism lang, Business Administration lang, IT lang," implying a lack of prestige or seriousness. Ironically, graduates from these programs, even those who excel academically, face limited employment opportunities. The mismatch between the skills acquired through higher education and the demands of the labor market is glaring. Many degree programs fail to adapt to the evolving needs of industries, leaving graduates ill-equipped for the roles that are available. A study by the Asian Development Bank (ADB) highlighted that 41% of employers in the Philippines find it difficult to fill positions due to lack of skills among applicants.

The economic landscape presents significant hurdles. In developing countries like the Philippines, job creation has not kept pace with the growing number of graduates. Economic slowdowns, political instability, and insufficient investment in industries that could absorb skilled labor exacerbate the situation. The PSA reported that in 2022, approximately 1.96 million Filipinos sought employment abroad, a 7.6% increase from 1.83 million OFWs in the same period of 2021. This surge in overseas employment reflects a desperate search for better opportunities. For example, nursing graduates, who aspired to work in healthcare, often find themselves in foreign lands working as domestic helpers, far removed from their training and dreams. This undeniable contrast between their qualifications and their job roles adds a poignant layer of personal and professional disillusionment.

The psychological and social toll of unemployment on degree holders is profound. Research by the World Health Organization (WHO) shows a clear link between unemployment and mental health issues, with unemployed individuals being twice as likely to suffer from depression and anxiety compared to their employed counterparts. These individuals, having invested considerable time, effort, and financial resources into their education, often grapple with feelings of frustration, inadequacy, and disillusionment. The societal pressure to succeed and the stigma attached to being unemployed can lead to mental health issues, including anxiety and depression. This not only affects the individuals but also their families and communities, perpetuating a cycle of despair.

For many, the temporary solution is to take on jobs that are far removed from their academic training. While this may provide temporary financial relief, it often leads to a sense of unfulfillment and wasted potential. The skills and knowledge acquired through years of education are left to atrophy, further diminishing the individual's confidence and prospects for future employment in their chosen field. According to a study conducted by Aspiring Minds, a Delhi-based assessment company, 65% of Filipino graduates end up in jobs that do not require a college degree.

Addressing this issue requires a multifaceted approach. Educational institutions must innovate and align their curricula with market needs, fostering skills that are in demand and promoting entrepreneurship and vocational training. According to a study by Ronald Bustos, Head for Campus Internationalization, Linkages, and Extension at Don Mariano Marcos Memorial State University in La Union, entitled "Bridging the Gap: Aligning Higher Education Priorities with the Shifting Job Landscape in the Philippines," there is a need to recalibrate our education system to meet the needs of a rapidly changing job market and equip students with practical skills. Governments and private sectors need to collaborate to create robust job markets, investing in industries that can absorb the influx of graduates. Additionally, providing support systems, such as career counseling and mental health services, can help unemployed graduates navigate this challenging period.

Hence, the plight of the unemployed degree holder is a saddening reminder that education, while invaluable, is not a remedy for all economic challenges. A concerted effort from all sectors of society is essential to bridge the gap between education and employment, ensuring that the promise of a brighter future through education is fulfilled for all graduates.