FX.co ★ Chile Jobless Rate Above Forecasts

The unemployment rate in Chile stood at 8.4% for the period of December 2024 to February 2025, exceeding market projections which had anticipated a rate of 8.1%. This figure marks a decline of 0.1 percentage points from the previous year, attributed to a 0.9% increase in employment that outpaced the labor force's 0.8% expansion. Meanwhile, the number of unemployed individuals decreased by 0.6%, largely due to a 1.1% reduction in those actively seeking work. Among women, unemployment increased to 9.3%, a rise of 0.3 percentage points, as the labor force expanded by 0.6%, surpassing the 0.4% growth in employment. Conversely, men's unemployment fell to 7.7%, down by 0.4 percentage points, with employment growth reaching 1.4%. Overall, employment saw a 0.9% increase, primarily driven by the transportation sector (+7.9%), finance (+17.2%), and public administration (+4.9%), supported by a 3.2% rise in formal salaried positions.