7.

Summarize current and projected trends in the economy with regard to GDP, unemployment,
and inflation. How should you use this information to make personal financial and career
planning decisions?

According to the National Statistics Office of Philippines the Philippines GDP advanced 5.6%
quarter-on-quarter in Q4 2020, after a record pace of 8.0% growth in Q3. This was the second
straight quarter of expansion, amid a further recovery in the economy from the ongoing COVID-
19 pandemic and increased spending around the Christmas season. The service sector grew
further (4.5% vs 9.7% in Q3), mainly driven by trade, transport and storage, and
accommodation and food service activities. Also, Industry output rose 11.6%, following a 7.3%
gain in Q3, largely led by manufacturing. In contrast, agriculture, forestry, and fishing fell (-4.1 %
vs 0.7%), dragged down by palay, livestock and corn. On the demand side, household
consumption grew by 2.9%, with food and non-alcoholic beverages, restaurants and hotels, and
transports being top contributors.

From the same source as mentioned before (NSO) The unemployment rate in the Philippines
surged to 8.7 percent in the December quarter of 2020 from 4.5 percent in the same quarter a
year earlier, amid the economic downturn caused by the coronavirus crisis. The number of
unemployed persons surged by 1.77 thousand to 3.81 million, while the number of employed
dropped by 2.70 thousand to 39.84 million. Meanwhile, the labor force participation rate was
down to 58.7 in the fourth quarter from 61.4 the prior year. Among employed persons, workers
in the services sector made up 57.2 percent of the total, followed by those in the agriculture
sector (24.5 percent) and industry (18.3 percent)

In terms of the inflation rate according to the data from Philippine Statistics Authority. The
annual inflation rate in the Philippines rose to 4.2 percent in January 2021 from 3.5 percent a
month earlier. This was the highest reading since January 2019, above both the central bank's
target of 2.0 to 4.0 percent and market consensus of 3.5 percent. Main upward pressure came
from all components.On a monthly basis, consumer prices rose by 1.3 percent, the most since
June 2008.

In connection to current trends/situations mentioned above personally if I had the resources I

would risk buying stocks right now because they are still at their lowest prices. Even when the
risk is high I will carefully study the current companies that I believe will have good returns
within 5-10 years. I will also try to diversify my portfolio as much as possible so if problems may
arise, not all of my investments will turn to waste.

As for my career, aside from potentially becoming a stockist, as a marketing student/graduate I

will try to research the market for useful and cheap products. Since most people are looking for
ways to save money during this time of high inflation and high unemployment rate. Or I would
also like to put up a company that is compatible with the current remote work set up. Not only
will it save miscellaneous costs but it will also help reduce unemployment in my area.
8. Assume that you graduated from college with a major in Marketing and took a job with a large
consumer products company. After 3 years, you are laid off when the company downsizes.
Describe the steps you'd take to repackage yourself for another field.

- Committing to a field change plan: Here, individuals should identify the new field they would
like to get into, take an inventory of themselves, and identify the skills they possess that would
apply to the new field and where they need to upskill.

- Building a professional network: This step involves identifying the human resource manager
and the key players of a company. Thereafter, a person needs to make an actual connection
and get into the network to identify if they already know someone working in the field. The
connection helps a person to learn more about the field and to expand the professional network.

- Easing the way to the new field: When changing a career field, it is not easy to get a dream
job. Therefore, one has to ease their way in.

https://tradingeconomics.com/philippines/gdp-growth
https://tradingeconomics.com/philippines/inflation-cpi