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Chile’s unemployment rate records third annual increase, reaching 8% in previous report

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The National Institute of Statistics (INE) reported on Monday that Chile’s unemployment rate during the moving quarter from November 2022 to January 2023 was 8.0%.

This figure represents an increase of 0.7 percentage points (pp.) in 12 months (the third annual increase after a continuous decline from February to April 2021). (3.4%).

Meanwhile, unemployment increased by 15.2%. This is impacted by those who were unemployed (15.4%) and those looking for work for the first time (13.9%).

Participation and employment rates continued to rise, rising 1.9 percentage points to 60.6% and 55.8%, respectively, according to INE’s report. 1.4pp each. Both rates are higher than his 2021 and he’s 2020 same quarters, but lower than their 2019 rates.

On the other hand, the non-working population decreased by 3.7%.

The female unemployment rate was 8.6%, up 0.9 percentage points. Meanwhile, the participation rate and employment rate were 51.0% and 46.6%, up 2.7 percentage points respectively. 2.0 pp in each case.

“For men, the unemployment rate was 7.6%, up 0.7 percentage points, while the participation and employment rates were 70.7% and 65.3%, up 1.1 percentage points, respectively, 0.6 pp.,” INE added.

Source: Biobiochile

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