DAVAO: Davao Region's unemployment rate declined to 2.6 percent in October last year, lower than the 3.5 percent reported in October of the previous year, the Department of Labor and Employment in the region (DOLE-11) reported Thursday. 'Unemployed in October 2023 is much lower than in October 2022 at 70,000 and 81,000 respectively,' the DOLE-11 said, quoting data from the Philippine Statistic Authority in the Davao Region (PSA-11). The same PSA-11 data indicated that the employment rate increased to 97.1 percent from 96.5 percent both in October 2022 and July 2023. Moreover, PSA-11 also noted a 2.4 million labor force in October 2023, a bit higher than the 2.3 million in the same month last year. Of the number, 2.3 million were employed in October 2023, which is much higher compared to PHP2.2 million in the same period in 2022. Underemployment in October 2023, meanwhile, was recorded at 171,000 - lower than the 174,000 in October of the previous year. Source: Philippines News Agency