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Reasons for Unemployment in Chile

Is this a good or a bad number? Here are the keys you decide on …

The National Institute of Statistics (INE) today released the national unemployment rate in the August and October mobile quarters, which reached 7.1%. Is this a good or a bad number? Here are the keys you decide on:

1. Total unemployment rises

– The 7.1% level already recorded in the immediately preceding quarter represents an increase of 0.4 tenths compared to the same period in 2017.

– Unemployment rate for women is about 7%. An increase of one year is more pronounced in the case of men's unemployment, ranging from 6.3% to 6.9%, for women increasing from 7.3% to 7.4%.

– The unemployed increased by 6.4%, which explains the unemployed (6.0%) and those looking for work for the first time (10.6%).

2. Still missing flight

– Labor force grew by 1.4%, an acceleration compared to 0.9% in the July-September period, but below 2.3% a year ago.

– Employees show similar dynamics. They grow 1% – the equivalent of 83,661 people – more than the previous 0.5% but less than 1.9% twelve months ago. This growth was mainly due to construction (4.0%), housing and catering (6.6%) and education (3.0%).

– Employment with private employment increased by 1.5% – more than in the previous quarter and corresponding to 72,120 – while the public reached 2.7% – without the previous quarter. Overall, a year ago, employees grew by 0.8%, with an important role for the public sector.

Better quality of work

– Adaptation to self-employment continues: they are now down 0.2%, representing a 4.8% growth year-on-year growth. It is supposed to be a type of employment with less social protection.

– Volunteers working part-time increased by 8.8%, motivated by private workers and the trade, agriculture and fisheries sectors. As a counterpart, it involuntarily retreated by 4.2%.

4. The north has the worst part

Unemployment rose in nine regions – seven more than 7.1% – was reduced by five and remained in Aysen. In the northern zone of Tarapaca, Antofagasta and Atacama exceeds 8%. O'Higgins also joins 8% of the club.

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