Chile registers unemployment drop to 7.2%, the lowest rate in two years

Unemployment in Chile fell to 7.2% in the October-December moving quarter, its eighth consecutive decline and the lowest rate in two years, reported this Monday the National Institute of Statistics (INE).

In the last twelve months, according to the National Employment Survey (ENE) elaborated by the INE, unemployment showed a decrease of 3.1 percentage points “as a result of the increase in the labor force (4.5%), lower than that presented by employed persons (8.1%). On the other hand, unemployed persons decreased 26.9%, influenced by who were unemployed (-27.8%) and those seeking work for the first time (-18.3%)”.

“Employed people had an increase of 8.1%, influenced by both women (11.7%) and men (5.7%). For their part, the absent employed, who represented 5.8% of the total population occupied, decreased 22.4%, equivalent to 144,398 people”, indicated the INE.

For his part, the Minister of Economy, Lucas Palacios, published on his social networks that the “objective of recovering with boosts economic activity and also employment”.

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“We have recovered 80% of the jobs that the pandemic and recession destroyed. It was necessary to create conditions health safety, operational and of certainty to reactivate the economy and especially investment, which is the main source of opportunities for Chileans,” said the Secretary of State.

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The Central Bank increased in December its projection of gross domestic product (GDP) growth in 2021, estimating that it will range between 11.5% and 12%, although it also announced that growth prospects will be reduced in 2022 and 2023. (I)