Unemployment reaches 7.6% for February-April trimester

SANTIAGO.- The unemployment rate reached 7.6% for the February-April trimester, falling slightly below the market estimate.

During the same trimester in 2007, the unemployment rate was at 6.8%, while in the previous trimester (January-March) it was also at 7.6%.

The twelve-month increase in the unemployment rate can be attributed to the fact that the workforce (3.4%) has expanded more than employment opportunities (2.5%). According to the National Statistics Institute (INE), the labor force increased by 234,470 people, bringing the total workforce to 7,180,850 while workers increased by only 160,380, bring the total to 6,631,660 for the same time period. 

At the same time, the number of people unemployed rose by 74,090 and the number of people outside the labor force fell by 21,120 in twelve months.

The unemployment rate did not change when compared to the previous trimester due to a slight decrease in employment (-0.1%) and the fact that there was no change in the workforce.  Meanwhile, unemployment rose by 1.2%, which is typical for this time of year.