(GFX from PSA-11)
DAVAO CITY – The employment rate in the Davao Region reached 96.9 percent in July this year, according to data released Wednesday by the Philippine Statistics Authority (PSA) in Region 11.
The July figure is an improvement from the 96.2 percent recorded in July 2023 and 96.4 percent in April 2024.
In terms of absolute numbers, 2.32 million individuals were employed in July 2024, up from 2.12 million in the same month last year. In April 2024, the number of employed was estimated at 2.28 million.
“The Davao Region’s employment rate for July 2024 is higher than the national average of 95.3 percent,” PSA-11 said in a statement.
The unemployment rate in the region for July stood at 3.1 percent, down from 3.8 percent in July 2023. In April 2024, the unemployment rate was recorded at 3.6 percent.
PSA-11 said about 74,000 individuals were unemployed in July 2024, compared to 83,000 in July 2023 and 85,000 in April 2024.
Meanwhile, 63 percent of the region’s population aged 15 and above were part of the labor force. In July 2024, the total population of this age group was estimated at 3.83 million.
The Labor Force Participation Rate (LFPR) for July 2024 was 62.5 percent, higher than the 58.1 percent recorded in July 2023 and 61.9 percent in April 2024.
The July LFPR translates to 2.39 million people aged 15 and older being in the labor force, either employed or unemployed. In comparison, the labor force in July 2023 was 2.20 million, and 2.37 million in April 2024. (PNA)
