19 Services Sector Flashcards
importance of services sector
- source of services
- source of livelihood
- contribution to national income
components of services sector
- financial, insurance, real estate activities
- accommodation and food service activities
- domestic trading
- public and private sectors
- transportation and storage
- information and communication
- arts, entertainment, recreation
problems of services sector
- brain drain
- skills mismatch
- competition
- labor issues
experts and professionals go abroad
brain drain
skills gap, skills shortages, skills obsolescence, over/under skilling
skills mismatch
contractualization, provincial rate, low minimum wage
labor issues
no tenure, less benefits, no bonus/health insurance
probationary employment
has tenure, more benefits, has health insurance
regular employment
working but on contract only
contractualization
less salary in the provinces, even if it is the same job
provincial rate
by IMF and WB
financial sector assessment program (FSAP)
identify and reform financial weakness worldwide
financial sector assessment program (FSAP)
increase competition in tech
national information technology for the 21st century (IT21)
everyone has access to tech
national information technology for the 21st century (IT21)
make the Philippines center of knowledge in asia
national information technology for the 21st century (IT21)
revises and consolidates labor laws
presidential decree no. 442 (labor code)
promote employment and HR; peace and social justice
presidential decree no. 442 (labor code)
no termination without definite period given beforehand, unless it is a severe charge
RA 1052: termination pay law
30 days notice
RA 1052: termination pay law
regulate employment of women and children
RA 679: employment of women and children
provide penalties when violated and others
RA 679: employment of women and children
as much as 105 business days of paid leave
RA 11210: maternity leave law
can extend for 30 unpaid + 15 if single parent
RA 11210: maternity leave law
as much as 7 business days of paid leave + 15 if single parent
RA 8187: paternity leave law
