Davao employment at 95.4% as of October
Subscribe Now February 01, 2015 at 09:04am
Data from Dole-Davao showed the employment rate at 95.4 percent as of October 2014, up from 93.3 percent in the same period in 2013.
Unemployment was down to 5.5 percent from 6.6 percent, the agency reported. Underemployment increased to 17.6 percent from 14.9 percent.
The region's labor force grew by 2.3 percent, to 2.06 million from 2.02 million.
The number of employed individuals increased by 3.6 percent, to 1.95 million from 1.88 million, while the unemployed dropped by 14.9 percent, to 114,000 from 134,000.
The underemployed sector grew by 22.9 percent, to 344,000 from 280,000.
Assistant Regional Director Venerando C. Cebrano told Sun.Star Davao the rise in the employment and drop in underemployment are the result of a strong economy.
He said the services and the agribusiness sectors remain as the top employers in the region, but the construction sector also generated a lot of jobs last year.
Cebrano said the value-adding sector of the agribusiness industry has allowed it to be a major employer of the region.
For example, he said the production of banana chips has created jobs for those in the banana industry.
In the services sector, the business process outsourcing industry continues to be the major employer.
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