Amid economic concerns during the last quarter of the year, the National Economic and Development Authority (NEDA) in Region X reported that the number of employed persons increased by 99 thousand to 1.87 million over the year in Northern Mindanao in 2008.
In its 2008 State of the Region Report (SORR), the NEDA attributed the jobs growth to the influx of investments and a 10.7 percent growth in the trade subsector throughout northern Mindanao?s five provinces of Camiguin, Bukidnon, Lanao del Norte, Misamis Occidental and Misamis Oriental.
Accordingly, the number of unemployed Filipinos in the region decreased by 14.58 percent, bringing the unemployment rate to a record low of 4.2 percent.
The underemployment rate also went down significantly by 12.7 percentage points to 21.3 percent this year.
About nine-tenths of those who were employed (90%) belong to the farming, fishing and forestry, and services sectors, while the remaining 10 percent were in the industrial sector.
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