Central Luzon’s economy continued to improve in the second quarter of 2022 as unemployment decreased while the number of tourists, flights, air cargo, and agricultural production increased..
Unemployment rate decreased from 8.8 percent to 5.2 percent compared to the previous year. Investment pledges increased by more than 300 percent, and tourist arrivals increased by 144 percent, indicating continued economic recovery. Palay, chicken, egg, and hog production levels also increased this year.
Peace and order likewise improved, with the total crime volume down by 6.73 percent compared to the same period last year, while crime solution efficiency rate increased by 2.76 percent.
However, inflation rate went up to 7.5 percent due to increase in in prices of transport and fuels.
Mr. Al Jonnel L. Espiritu, Economic Development Specialist I of the NEDA 3 – Development Research Division, presented regional economic situation during the Third Quarter CL-RSC Meeting held on 27 September 2022 in NEDA Region 3, City of San Fernando, Pampanga.
Full report of the Quarterly Regional Economic Situation are available in the NEDA 3 website at: https://nro3.neda.gov.ph/publications/
(Emmanuel B. Purzuelo, NEDA 3-DRD)