Employment up in H1: PSA

EMPLOYMENT rate in Davao Region improved to 94.4% as of July this year following the continued jobs generation in the region, data from Philippine Statistics Authority (PSA) showed.

In PSA’s Labor Force Survey released on Wednesday, the region’s employment rate was higher than the national figures at 93.5%. It also increased compared with the rate in July last year when the employment rate of the region was 93.8%.

The labor force participation rate was 63.2% out of the 3.180 million population for people 15 years old and above. Most of the persons employed in the region are working under the sectors of agriculture, service and industry.

The region’s employment rate also rose compared in April when it stood at 94%.

Lawyer Joffrey M. Suyao, regional director of Department of Labor and Employment, attributed the improvement on the employment rate on the continued jobs generation. The department also organized job fairs and implemented livelihood programs.

“We hope that our employment rate will continuously improve,” Suyao said earlier in a report.

The region’s underemployment rate, meanwhile, also increased to 25.2% as of July from 20.2% a year ago.

PSA defined in its website that underemployed persons “are employed persons who express the desire to have additional hours of work in their present job or an additional job, or have a new job with longer working hours.”

Throughout the country, Economic Planning Secretary Arsenio M. Balisacan noted that there was a decline on the number of persons without jobs as unemployment rate eased to 6.5% in July from 6.7% a year ago.

“The favorable economic growth of the country certainly drove an encouraging response from the labor market in July 2015,” Balisacan said in a statement.

Posted in Business