Davao Region labor force rate drops 3.7% in July 2023: PSA

The Labor Force Participation Rate (LFPR) in Davao Region for July 2023 is 59 percent or a 3.7 percentage point lower compared to the 62.7 percent last year, the Philippine Statistics Authority in Davao Region (PSA-11) said Tuesday. PSA-11 also noted that 59 percent or 2.24 million Dabawenyos out of the estimated 3.79 million labor force are 15 years old and above. 'This is 3.7 percentage points lower compared to the LFPR of July 2022 for 62.7 percent or 93,000 less Davaoeños in the labor force in 2023 than in 2022,' the agency said in a statement. The employment rate, or the proportion of employed persons to the total labor force in Davao Region, was at 96.5 percent in July this year. 'This is an estimate of 139,000 less Davaoeños with work compared to April 2023. In addition, Davao Region's employment rate for July 2023 was higher than the national estimate of 95.2 percent,' PSA-11 said. The region's unemployment rate was recorded at 3.5 percent, which is higher compared to the April 2023 unemployment rate with 3.3 percent, and 1.3 percentage points lower than the national estimate of 4.8 percent. Davao Region's underemployment rate for July 2023 is at 13.8 percent. 'Underemployed persons are employed persons who expressed their desire to have additional hours of work in their present job or to have additional job, or to have a new job with longer hours of work,' PSA-11 said. The underemployment rate for July 2023 was higher by 5 percentage points than April 2023 at 8.7 percent.

Source: Philippines News Agency