Thursday, June 8, 2023

Unemployment registered a sharp increase in the first three months of the year

The unemployment rate in Chile reached 8.8 percent between January and March this year, a one percent increase in unemployment in the country when considering the previous 12 months.

According to this Friday’s report from the National Institute of Statistics (IN), it is detailed that there has been an increase of 16.9 percent in unemployed people, who are only affected by the unemployed (20.3 percent).

He also highlighted that, by sex, the unemployment rate was 9.5 percent for women and 8.3 percent for men.

Leonardo Gonzalez, INE’s deputy technical director, stressed that although the positive change was small, it is “statistically significant”, making it “a fifth increase after a consecutive decrease from February to April 2021”.

“With respect to the previous mobile quarter—with data considering seasonal adjustments—no variation in the unemployment rate was recorded,” he said.

The agency also reported that the total estimate of employed persons increased by 2.4 percent, mainly affected by health (8.5 percent), agriculture and fishing (5.2 percent) and education (3.9 percent).

Meanwhile, the main declines occurred in construction (-5.5 percent), households as employers (-4.9 percent) and real estate activities (-12.9 percent).

They also highlighted that the population outside the labor force decreased by 2.8 per cent in the 12 months affected by habitually inactive people.

As far as trade is concerned, it has decreased by 4 percent in a year due to a decline of 11.2 percent in retail trade and 2.2 percent in wholesale trade.

With respect to sales of services, recreational activities increased by 44.2 percent, while sales of accommodation and food increased by 19.7 percent.

INE elaborated that the seasonally adjusted unemployment rate stood at 8.5 percent without recording variation with respect to the previous running quarter.

With regard to industrial production, INE reported that it had decreased by 5.9 percent over the past 12 months due to the fact that mining output fell by 8.7 percent and manufacturing fell by 5.5 percent.

Finally, the INE reported that the informal employment rate was 27.4 percent, showing an increase of 0.1 percentage points over twelve months, and that informally employed people increased by 3.1 percent, with women scoring 9.1 percent, while men decreased by 1.4 percent.

The informal employment rate stood at 27.4%, increasing by 0.1 pp. in twelve months. Informally employed persons increased by 3.1%, affecting only women (9.1%), while men decreased by 1.4%.

Compared to the worst of the pandemic, 13,358 jobs are pending recovery, which is equivalent to 0.7 percent.

World Nation News Desk
World Nation News Desk
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