Chile’s unemployment rate soared to 13.1 percent in the three months to July 2020 from 7.5 percent in the corresponding month of the previous year, above market expectations of 13 percent. It was the highest jobless rate since March 1986, as the coronavirus pandemic hit the labour market. The number of unemployed jumped 46.4 percent to 1,065 thousand while the number of employed slumped 20.6 percent to 7,073 thousand. Meantime, the labor force participation rate was at 51.8 percent and the employment rate at 45 percent.
Unemployment Rate in Chile averaged 8.12 percent from 1986 until 2020, 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. This page provides the latest reported value for - Chile Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Chile Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: National Institute of Statistics, Chile
Unemployment Rate in Chile is expected to be 11.50 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 10.50 in 12 months time. In the long-term, the Chile Unemployment Rate is projected to trend around 9.70 percent in 2021 and 8.10 percent in 2022, according to our econometric models.