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  HOME | Chile

Unemployment in Chile Holds Steady at 5.8%

SANTIAGO – The unemployment index in Chile remained at 5.8 percent in the November-January rolling quarter, the National Statistics Institute reported Monday.

The figure, which represents nearly 506,000 people out of work, beat analysts’ forecasts of 6 percent unemployment.

The workforce participation rate increased by 0.2 percentage points to 60 percent, while the employment rate rose by 0.1 point to 56.5 percent.

In the November-January period the workforce numbered 8.67 million people.

The jobless rate was 5.5 percent among men and 6.4 percent for women.

In the Santiago Metropolitan Region, where almost 40 percent of the country’s workforce lives, unemployment was 5.8 percent.

Year-on-year, employment grew by 18 percent in fishing industries, 13.8 percent in the hospitality sector and 9.9 percent in construction.

Major reductions in employment occurred in mining, with a 14.8 percent decrease, and utilities, down 4.3 percent.

 

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