FX.co ★ Chile Jobless Rate Rises to 8.8%, Above Forecasts

Chile's unemployment rate climbed to 8.8% during the February to April 2025 timeframe, marking a 0.3 percentage point increase from the previous year and surpassing market forecasts of 8.6%. This uptick was primarily fueled by a 0.6% expansion in the labor force, which exceeded the 0.2% rise in employment. Notable job growth was observed in the food services sector (8.8%), finance (10.1%), and education (4.3%), whereas the number of inactive individuals rose by 1.5%. Conversely, employment experienced a decline in the public sector (-5.1%) and commerce (-1.3%). Among men, the unemployment rate increased by 0.4 percentage points to 8.2%, with no employment growth but a significant 5.1% rise in the unemployed population. For women, the unemployment rate edged up to 9.7% (a 0.2 percentage point increase), as the labor force's growth rate of 0.8% surpassed the 0.5% increase in employment levels.