PH to deal with an oversupply of IT graduates
In four years, the Philippines will be dealing with an oversupply of information technology (IT) graduates.
The Philippine Institute for Development Studies (PIDS) said that IT-trained workers and professionals are likely to exceed demand by 171,960 positions by the end of 2025. However, PIDS Senior Research Fellow Jose Ramon Albert said that there’ll also be an undersupply of workers in the life sciences, physical sciences, mathematics and statistics and engineering areas by the same period.
“While forecasts vary by industry and region, momentous change is underway. Governments have to cope with the risks of growing technological unemployment and inequality, and businesses with shrinking consumer bases. Our actions today will determine whether change will result in massive displacement of workers or the emergence of new opportunities,” Mr. Albert said.
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