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January 2024 unemployment rate drops to 3.3%: PSA XI

THE PHILIPPINE Statistics Authority (PSA) XI recorded a drop in the unemployment rate in the Davao Region from 4.5% in January 2023 to 3.3% in the same month this year.

The number of unemployed individuals in January 2024 was estimated at 76,000, lower than the reported number in January 2023 of 107,000.

The report also noted that the employment rate in Davao Region is 96.7 percent, higher than the 95.5% rate in January 2023, but lower than the recorded employment rate in October 2023 at 97.1%. 

“In terms of levels, the number of employed persons in January 2024 was posted at 2.24 million, lower than the number of employed persons in the same month last year at 2.26 million. In October 2023, the number of employed persons was estimated at 2.34 million” PSA XI added. 

Ten other regions recorded higher employment rates such as BARMM (97.1%), Cagayan Valley (97.1%), SOCCSKSARGEN (96.7%), CAR (96.7%), Western Visayas (96.5%), Zamboanga Peninsula (96.1%), Ilocos Region (96.0%), Northern Mindanao (95.8%), Central Luzon (95.7%) and MIMAROPA (95.6%). 

The PSA XI survey is designed to provide statistics on levels and trends of employment, unemployment, and underemployment for the country, as a whole, and for each of the administrative regions.



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