Unemployment rises to 9.8% during February-April quarter

SANTIAGO.- Surpassing market estimates, unemployment rose to 9.8% during the February-April quarter.

The National Statistics Institute (INE) announced today that the unemployment rate has totalled an increase of 2.2% over the last 12 months and 0.6% when compared to the previous quarter.

The market forecast was that the unemployment rate would be between 9.2% and 9.6%.

Over the last 12 months, the unemployment rate has risen in 13 of the 15 regions within the country.

Decreases in the figure were registered for the second consecutive time in the regions of Arica and Parinacota, as well as Tarapacá.

Meanwhile the most significant hikes in unemployment were registered in the regions of La Araucanía, Los Lagos and Atacama amidst economic slowdown.

In the Metropolitan Region, the unemployment rate rose 1.7% points in 12 months, reaching 9.9%, due to a larger increase in the labor force (2.6%) with respect to employment (0.7%).