If investments and cars are regulated, shouldn’t jobs also be monitored and regulated? The rising rate of unemployment has always been a rampant problem in our country.
One of the factors that cause poverty is unemployment. It can either be the job is not available or the job available is not suitable for the jobseeker’s qualifications, skills and talents.

But in reality, most of the people who have walked along the streets of Makati will agree that there are lots of jobs available in the Philippines. Where can you find companies peddling jobs in the streets? Only in the Philippines!

I have personally experienced this with my first job. I roamed around the streets of Makati in search of a good company to work for. I could count myself lucky among those who can afford to go to big cities and look for jobs from one building to the other and land the job that had led me to where I am right now.

It is a fact that people in the provinces have to go to cities to secure themselves a job or a career. And for those who are incapable of doing so, whether by personal limitations including monetary considerations, finding job is a daunting task.

It is in my personal opinion that having a Centralized Database for Jobs is a solution to this Unemployment Dilemma.

I have based this “solution” with my experience with the Housing and Land Use Regulatory Board (HLURB). The first time I bought a condominium property was a mess. The turnover date indicated in the sales material and as presented by my real estate agent was not true. Hence, I have to request for a refund after two years of paying for the said property. Luckily, the HLURB now requires all marketing materials to be presented and approved so as to be given an HLURB ID number. Having the HLURB no. is an assurance that the real estate companies will only print materials that are in line with the actual plans and specifications of the property development.

What would be the impact on the employment rate?
Imagine for a moment these below scenarios with the creation of Centralized Job Database:

1. All employers are required to post in DOLE website details of their job offerings and be given a DOLE ID before they could post on their own websites and advertise in the newspapers or in other media.
2. Applicants looking for jobs could easily go to the DOLE website and search for jobs and categorize them according to location, pay, skills needed, education needed and other requirements.
3. Individuals from the provinces without electricity or internet could access computers of DOLE provincial offices and search for jobs.

Below are three (3) major reasons why having a centralized job database which requires a DOLE ID number before you can offer a job and advertise is very important.

1. People from the province without internet access can simply go to the DOLE provincial office and look for jobs there which will reduce their expenses associated with job hunting.
2. Employers benefit from being able to get a wide range of talent to choose due to increased exposure of job listing while employees, on the other hand, get to find the best job suited for their skills due to the completeness of the job offers in the centralized database.
3. This will also protect jobseekers from illegal recruiters/jobs and from employers who offer below minimum wage salary and that through their DOLE IDs will be identified and be properly sanctioned.

For this to be effective, the government through the DOLE must create a team who will monitor websites, newspapers and the likes to insure that all job offers have the DOLE ID number.

Congress must enact a law that provides for heavy penalties to employers who hire an employee without first getting a DOLE ID number. The same penalty shall also be imposed to websites, newspapers and media companies for publishing any employment information without the required DOLE ID.

Initially, the law may require this for companies with at least 3 employees. And for companies which are in the remote areas, they can send an SMS to the DOLE hotline to post about the job and get their DOLE ID number.

If this suggestion is executed correctly, this could cause a significant decline in our country’s unemployment rate and thus, lead to a more prosperous and poverty free society.

​We, your FinancePH advisors, will be glad and more than willing to help you plan your finances. Our customized financial planning approach caters to each individual needs, budgets and priorities.

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Mark Joseph T. Fernandez, CPA, RFC, AFA, AWP, AEP, MDRT is the founder and head financial advisor of FinancePH. He has helped thousands of people start saving, investing and insuring. He conducts regular monthly seminars and is a regular TV and radio guest on finance topics. If you want him to be your financial advisor contact him at mark.fernandez@financeph.com .

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