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The reasons for unemployment in Chile

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

Today, the National Institutes of Statistics (INE) released the country's unemployment rate in the August-October mobile quarter, which reached 7.1%. Is this a good or a bad number? Here are the keys you need to decide:

1. Total unemployment is rising

– The 7.1% observed in the immediate preceding quarter has increased by 0.4 tents compared with the same period in 2017.

– Women's unemployment is around 7%. One year's increase is more pronounced in the case of male unemployment, ranging from 6.3% to 6.9%, and between 7.3% and 7.4% among women.

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

2. There is still a lack of flight

– Labor force increased by 1.4%, reflecting acceleration compared to 0.9% in the July-September period, but a year earlier it was less than 2.3%.

– Employees have similar dynamics. They increase by 1%, which is equivalent to 83,660 people – more than the previous 0.5%, but less than 1.9% 12 months ago. Growth was mainly due to construction (4.0%), accommodation and catering (6.6%) and education (3.0%).

– Private wages rose by 1.5%, more than in the previous quarter, and equivalent to 72,120 people, but the public did so at a rate of 2.7% compared to the previous quarter. Overall, salaried employees increased by 0.8% last year, and the public sector played an important role.

3. Better quality employment

– Self-employment adjustment is ongoing: it has now dropped by 0.2%, which means a change of 4.8% over the previous year. It is assumed that it is a type of employment with a lower level of social protection.

– Volunteer part-time employees increased by 8.8%, motivating privately-hired employees and the trade, agriculture and fisheries sectors. As opposed to that, 4.2% retreated.

4. The north occupies the worst part

Unemployment increased in nine regions – 7, exceeding 7,1%, it was reduced by five and remained in the Aysene region. Tarapaca, Antofagasta and Atacama are more than 8% in the northern zone. H & H Higgins joins the 8% club.

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