The jobless rate in Chile declined to 7.2 percent in the three months to July of 2019 from 7.3 percent a year earlier and in line with market expectations. The number of unemployed decreased 0.7 percent to 654.6 thousand while employment rose 1.5 percent to 8,474 thousand. The labor force participation rate was recorded at 59.4 percent and the employment rate at 55.1 percent. Unemployment Rate in Chile averaged 8.04 percent from 1986 until 2019, reaching an all time high of 13.50 percent in February of 1986 and a record low of 5.10 percent in February of 1998.
Unemployment Rate in Chile is expected to be 6.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Chile to stand at 7.00 in 12 months time. In the long-term, the Chile Unemployment Rate is projected to trend around 6.40 percent in 2020, according to our econometric models.