The economy of the Bicol Region improved in the first quarter of 2022 with the easing of COVID-19 restrictions. The average inflation rate in the Bicol Region dropped to 3.1 percent from 7.3 percent in the first quarter of 2021. The Bicol Region's labor market situation improved as the employment rate increased to 92.2 percent from 88.7 percent in the first quarter of 2021. Also, the underemployment rate decreased to 22.6 percent from 25.0 percent in the first quarter of 2021. Metallic and non-metallic mineral production value in the Bicol Region went up by 15.6 percent compared to the first quarter of 2021. The chicken inventory in the Bicol Region increased by 8.7 percent compared to the first quarter of 2021. The re-opening of some tourist destinations boosted tourism and enticed more people to visit the Bicol Region.