Millions of college-level students are graduating or have graduated again at this time of the year. Millions of Filipinos, then, will be added to the labor workforce and, if available jobs are not enough to absorb them, would surely increase the country’s unemployment rate.
As of the latest quarter, the Philippine unemployment rate stands at 7.10%. This translates to more than 2.89 million Filipinos without work.
In the past, graduates of MBA programs, especially in the US, are almost always assured of a job after graduation. The sad reality now, however, is that this is no longer true.
A BusinessWeek magazine article seems to show that it is a bad time to graduate now since job recruitment has slowed down for most US MBA graduates.
It doesn’t matter if you got the degree from Harvard or Wharton. As you can see in the list below, even renowned MBA schools in the US were not spared from the brunt of the economic recession.
The list compiles the results of a survey conducted among recent MBA graduates showing there is rising unemployment among MBA graduates.
