CHILE: Unemployment Remains Stable At 7% Between April And June

(RTTNews) - Chile's jobless rate remained stable at 7.0% during the second quarter of 2016 when compared to the previous quarter, the country's statistics office said on Monday.

However, the unemployment rate is 0.1 percentage point (pp) higher than in the same quarter a year ago, a result of a lower increase in the number of employed people (+1.9%) than in the available workforce (+2.0%). The total number of jobless people was also up (+4.2%).

As in the previous month, the unemployment rate remained at the largest level since the quarter ended in July 2016, when unemployment hit 7.1% of the working age population.

The participation rate increased by 0.2 pp, while employment rate rose by 0.1, towards 59.6% and 55.4%, respectively. In absolute terms, the number of working people totaled 8,211,960, while the unemployed were 619,960. Chilean workforce totaled 8,831,920 people between April and June.