Unemployment rate in Davao hits 3-year low

Thursday, December 22, 2011

THE unemployment rate in Davao Regions hit a three-year low, according to data gathered from the regional office of the Department of Labor and Employment (Dole).

Dole Davao regional director Joffrey Suyao said the region's unemployment rate as of July 2011 is pegged at 5.8 percent. This is lower compared to 6.1 percent unemployment rate in 2010. The unemployment rate in 2009 was registered at 5.9 percent.

Have something to report? Tell us in text, photos or videos.

The region has an employment rate of 94.2 percent as compared to national average of 92.9 percent.

"Although the growth is small, but this is something we can build upon," Suyao said as he expressed optimism of brighter economy in 2012.

Suyao attributed the employment growth to the construction boom and the entry of more investments in the region.

He also said peace and order remain as the main attraction of the region, particularly in Davao City.

According to the National Statistics Coordination Board, the jobless rate in the country for 2011 (January to October) hit around 6.4 percent.

This is the lowest jobless rate since 2007 when unemployment rate registered 6.3 percent.

The employment growth translated to 2.1 million jobs created from January to October of this year. (PIA)