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Reasons for unemployment in Chile

Is that a good or bad number? This is the key for you to decide …

Today, the National Statistics Institute (INE) released the national unemployment rate for the mobile quarter of August-October, which reached 7.1%. Is that a good or bad number? Here are the keys for you to decide:

1. The number of unemployed increases

– The rate of 7.1%, already observed in the previous quarter, represents an increase of 0.4 percent compared to the same period in 2017.

– Unemployment of women is around 7%. The one-year increase was reflected more strongly in male unemployment cases, which increased from 6.3% to 6.9%, while among women it increased from 7.3% to 7.4%.

– Unemployment increased by 6.4%, explained by unemployment (6.0%) and by those who sought employment for the first time (10.6%).

2. Flights are still missing

– Labor force increased by 1.4%, which was an acceleration compared to 0.9% in the July-September period, but a rate of less than 2.3% last year.

– Workers show similar dynamics. They grew by 1%, equivalent to 83,660 people, more than 0.5% before, but lower than 1.9% from twelve months ago. This increase was mainly driven by the construction sector (4.0%), lodging and food (6.6%) and education (3.0%).

– Private salaried employment increased 1.5% – more than the previous quarter and equivalent to 72,120 people, while the public did so at a rate of 2.7% – no more than the previous quarter. Overall, a year ago, salaried workers rose 0.8%, with an important role for the public sector.

3. Better quality of work

– Adjustments in entrepreneurship continue: now they are down 0.2%, which is a turnover to a 4.8% increase a year ago. It is assumed that this is a type of work with less social protection.

– Voluntary part-time workers increased by 8.8%, motivated by private breadwinners and the trade, agriculture and fisheries sectors. As partners, people who were forced to back down 4.2%.

4. North takes the worst part

Unemployment increased in nine regions – seven more than 7.1% – reduced by five and remained at Aysén. In the northern zone of Tarapacá, Antofagasta and Atacama, it exceeds 8%. O & Higgins also joined the club 8%.

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