31 May 2006

UNEMPLOYMENT RATE INCREASES IN CHILE

(May 31, 2006) Chile’s National Institute of Statistics released unemployment figures for the past three months Monday placing the nation’s unemp[loyment rate at 8.3 percent. The figure is up 0.1 percent over the same time period in 2005 and up 5.45 percent since the last report at the end of March.

The figures coincide with business sector expectations which estimated the unemployment rate at somewhere between 8 and 8.3 percent. According to the report the increase in unemployed workers is due to the admission of 94,470 new workers, representing a 6.84 percent increase in the labor pool since the INE released figures in March.

The report also detailed unemployment rates between sexes, showing a 0.5 percent increase in female unemployment and a 0.1 percent decrease in male unemployment. The overall figures for these two groups are 6.7 percent unemployment for men and 11.2 percent for women.

SOURCE: EL MERCURIO