Unemployment in Chile Almost Back At 2019 Levels

• Chilean authorities have reported that unemployment nationwide had fallen in 2021 to 7.2% while in the same period of 2020 it had hit 10.3%. In the middle of the social uprisings of 2019, it had been recorded at 7.1%. 
• This is the eighth consecutive annual decrease in the unemployment rate, with the unemployment rate for women at 7.4%, and for men at 7.1%. Jobs were boosted by construction (22.2%), commerce (8.5%) and hotels and restaurants (30.9%). 
• If the country continues at this rate, then it is possible to recover all the jobs that were lost in the worst moment of the pandemic. However, Leonardo González of the National Institute of Statistics (INE), warned, that “we have been consistently seeing these rates rise, but we are not yet seeing pre-pandemic levels.” 
• The recent unemployment figures are a good indication of the recovery of the Chilean economy. This will positively impact the economic outlook, as there is an acceleration in the labour market and growth.

 

(Source: ANSA)