Financial Literacy on Manufacturing Employees
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University of San Carlos
P. Del Rosario St. Cebu City
“FINANCIAL LITERACY OF EMPLOYEES IN THE FOOD MANUFACTURING INDUSTRY IN SELECTEDMANUFACTURING COMPANIES”
Group #7
RRL, SIGNIFICANCE OF THE STUDY, SCOPE OF LIMITATIONS
In Partial fulfillment of the requirements of BA 109- Business Research
12:00-1:30 pm MW EH107MC
AY 2013-2014
Submitted by:
Alivio, Gelijane
Quijada, Sanny Jay
Book.Dianara Mae J.
Submitted to:
Dr. Grace Marie V. Lape
Chapter I
I Statement of the Problem An article on unemployment states that “the official unemployment figures for the Philippines in 2011 are among the worst in Asia, higher than its South-East Asian neighbors and according to the International Labor Organization the country is among the worst one-fourth in the world in terms of unemployment rates. Without a strong manufacturing industry or real Filipino industry, the economy will be unable to create enough decent paying jobs. Till then, manufacturing or services will remain substandard, or of low value-addition. According to employment figures, jobs in the Philippines manufacturing sector increased by just 8% of the total employment. Nearly three out of every ten people in the labor force are looking for work or are jobless. The mining sub-sector said to be one of the fastest growing industry in 2011 failed to generate new jobs (just 0.6% of total employment). Steadily rising inflation has contributed to the erosion of the value of the minimum wage. Though the Aquino administration increased the minimum wage and announced cash dole-outs but lack of quality decent paying jobs and higher real wages continue to be a problem. The government’s policy to encourage foreign capital, even if in just low value-added assembly operations will continue to hinder real growth and development of the manufacturing sector. The Aquino administration needs to plan over the long-term, and prepare an
University of San Carlos
P. Del Rosario St. Cebu City
“FINANCIAL LITERACY OF EMPLOYEES IN THE FOOD MANUFACTURING INDUSTRY IN SELECTEDMANUFACTURING COMPANIES”
Group #7
RRL, SIGNIFICANCE OF THE STUDY, SCOPE OF LIMITATIONS
In Partial fulfillment of the requirements of BA 109- Business Research
12:00-1:30 pm MW EH107MC
AY 2013-2014
Submitted by:
Alivio, Gelijane
Quijada, Sanny Jay
Book.Dianara Mae J.
Submitted to:
Dr. Grace Marie V. Lape
Chapter I
I Statement of the Problem An article on unemployment states that “the official unemployment figures for the Philippines in 2011 are among the worst in Asia, higher than its South-East Asian neighbors and according to the International Labor Organization the country is among the worst one-fourth in the world in terms of unemployment rates. Without a strong manufacturing industry or real Filipino industry, the economy will be unable to create enough decent paying jobs. Till then, manufacturing or services will remain substandard, or of low value-addition. According to employment figures, jobs in the Philippines manufacturing sector increased by just 8% of the total employment. Nearly three out of every ten people in the labor force are looking for work or are jobless. The mining sub-sector said to be one of the fastest growing industry in 2011 failed to generate new jobs (just 0.6% of total employment). Steadily rising inflation has contributed to the erosion of the value of the minimum wage. Though the Aquino administration increased the minimum wage and announced cash dole-outs but lack of quality decent paying jobs and higher real wages continue to be a problem. The government’s policy to encourage foreign capital, even if in just low value-added assembly operations will continue to hinder real growth and development of the manufacturing sector. The Aquino administration needs to plan over the long-term, and prepare an