Unemployment rate in April 2023 in Bicol Region was estimated at 3.9 percent, translating to 99 thousand unemployed Filipinos. This estimated rate is lower than the unemployment rate reported in the same month in 2022 at 6.2 percent.

The region's employment rate was registered at 96.1 percent in April 2023, an increase from the 93.8 percent in April 2022. In terms of magnitude, employed persons increased by 26 thousand in April 2023 estimated at 2.42 million from 2.39 million in April 2022. Moreover, the number of employed persons in April 2023 was higher than the reported 2.27 million employed persons in January 2023.

The labor force participation rate (LFPR) increased to 61.1 percent in April 2023, equivalent to 2.52 million Filipinos in the labor force. The reported LFPR in April 2023 was lower than the reported LFPR in April 2022 but higher that the LFPR in January 2023 at 62.4 percent and 59.1 percent, respectively.

The number of underemployed persons or the employed persons who expressed the desire to have additional hours of work in their present job or to have additional job, or to have a new job with longer hours of work was registered at 607 thousand, translating to an underemployment rate of 25.1 percent in April 2023. This was higher than the reported rate in April 2022 (21.2%) but lower than in January 2023 (27.2%).