In the September-November quarter of 2023, Chile experienced a rise in unemployment, reaching 8.7%.
This increase, as reported by the National Institute of Statistics (INE), was 0.8 percentage points higher compared to the same period last year.
The growth in the labor force outpaced the total number of individuals gaining employment. This imbalance contributed to the rise in unemployment rates.
Sectors such as healthcare, manufacturing, and public administration saw employment growth.
However, this was not sufficient to offset the overall increase in the labor force, which reached 10 million.
Out of this, 874,357 individuals remained unemployed. Additionally, the rate of informal employment in Chile reached 27.5%.
In Santiago’s Metropolitan Region, nearly half of Chile’s 19 million population resides. Here, unemployment rose at 9.7%, showing a one percentage point annual increase.
This regional data reflects the broader national trend of rising unemployment. These figures indicate a challenging economic period for Chile.
The growth of the labor force suggests more people are seeking employment, possibly due to economic pressures.
However, the job market has not expanded at the same rate, leading to increased unemployment.
The situation in Santiago mirrors the national trend, underscoring the economic challenges in Chile’s urban centers.
As the largest metropolitan area, Santiago’s unemployment rate often reflects broader economic patterns in the country.
Overall, Chile faces the challenge of creating enough job opportunities to match the growing labor force.
This situation calls for focused economic strategies to boost employment, particularly in sectors showing growth.
As Chile navigates this economic landscape, the balance between labor force growth and employment opportunities remains a key focus for policymakers.