As of January 2025, Chile’s unemployment rate reached 8%, the lowest in two years, down from expectations of 8.2%. The labor force grew by 0.8% and employment by 1.3%. Unemployment decreased by 4.1%, with a slight rise in female unemployment to 9.1% and a drop in male unemployment to 7.2%. Informal employment fell to 26.3%.
As of January 2025, Chile’s unemployment rate has declined to 8%, reaching its lowest point in two years and falling short of market expectations of 8.2%. This marks a reduction of 0.4 percentage points from the previous year, bolstered by a 0.8% increase in the labor force, outpacing a 1.3% rise in the number of employed individuals.
The total number of unemployed individuals dropped by 4.1%, largely driven by a 4.2% decline in those previously working and a 2.8% reduction in first-time job seekers. Meanwhile, the female unemployment rate experienced a slight rise to 9.1%, an increase of 0.3 percentage points, whereas the male unemployment rate fell to 7.2%, a decrease of 1.0 percentage points.
Informal employment within the country has also experienced a downturn, now standing at 26.3%, which reflects a decrease of 1.3 percentage points over the past year. This reduction in informal employment is primarily attributed to fewer informal workers in the commerce and manufacturing sectors, illustrating a shift in employment trends.
In summary, Chile’s job market has demonstrated a significant improvement with a notable decrease in the unemployment rate to 8%, alongside changes in male and female unemployment figures. The rise in employment and the decline in informal work indicate positive movements in the labor force, highlighting an upward trend in the economy. Observing these patterns will be crucial for understanding the future dynamics of the Chilean labor market.
Original Source: www.tradingview.com
