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Relevance of Economics in Education and Labor Market Daisy Banaag Economics has been one of the most important aspects of a country. It is defined to be the study of production, distribution, and consumption of goods and services. Importance of our education and the labor market do have significance in our country’s economic status. Imagine our country filled with people without knowledge in anything—money, politics, and leadership. Imagine our country filled with unemployed and underemployed citizens. Wouldn’t be that appalling? Thinking greatly on the significance of these two, education and labor market, we would be conscious that these affect our country’s economic status. The significance of economics in education can be summed up into many portions. Education became a way of increasing our country’s economy. With this, it is considered to be the essential factor in the development and renewing of our status economically. I believe that the abilities of the labor force are the ones who contribute more for the betterment of a country’s economy. Education can be the treatment for our country’s severe economic problems such as the growing numbers of people who are unemployed and underemployed. An individual, definitely, needs education in order to acquire his goals in life and in finding the accurate profession for him. Once a person gets hold of his good career, he shall be a contribution for the development of a country. More job opportunities for thousands of people, the greater our economy would be. Economics also have importance in labor market. This gives the people the ability of working as a full time. As I’ve observed, thousands of people are now being underemployed and worse, unemployed. Some individual just rely on others’ hands and do not work at all. Others may want jobs but they do not have the opportunity of having one. These are the people who do not finish their studies and end up doing nothing in their lives. These do affect our country’s economy because of the lessening of working individuals. We have noticed that people with no jobs are increasing every month and our economy is getting worse. In the latest SONA of our President Arroyo, she informed the public that our country has its best economic status on the year 2007. But people still argue with one another on this reason. I, personally, believe that our president is doing something good for the country but most of the time, we tend to become lazy and rely to our government more. We have our own hands to work on the problems of our country. Unemployment and poverty is said to be the two major problems our country faces today. I believe that we, the people, could do something beneficial to our country. Knowing the fact that education and labor market affects our economy could be of great help. If only all people have the perceptive in these two things could be of great help to our economy, our country’s economic status would change. This instances proves that when education and labor market in our country is well and is given full attention, more job opportunities will be given to people, bigger salaries would be given to employees, poor people would be given the chance to work, more children would learn in schools, and our country would prosper its economic status. Let us not only rely on the ones in positions. They also need the help of the citizens. We all have the eyes to see, ears to hear, mouth to communicate and hands and feet to work on these problems. Even the pettiest person in this country could do something. With an honest and trust-worthy leaders and disciplined citizens, our economic problems would be lessening.