Unemployment drops 7.5% during August-October trimester

SANTIAGO.- According to the Instituto Nacional de Estadísticas (INE), the unemployment rate fell 7.5% during the August-October trimester.

The figure is lower than the 7.7 percent registered during the same period in 2007 and the 7.8 percent reached in the previous July-September trimester of this year.

Employment has continued to grow over the last 12 months (3.8%) and has surpassed the growth in the labor force for the first time.

The 12-month employment increase was lead by the sectors of Commerce, Municipal, Social and Personal Services, as well as Construction.

Meanwhile, the number of jobless individuals rose by only 1.1% in 12 months, which can be explained by the increase unemployment (6.0%) in contrast to the significant reduction in people who are looking for work for the first time (-25.7%), with the 15-24 year-old age group standing out from the rest with a reduction of 8,670 people.

By gender, the most significant increases in the labor force and employment were among women (both by 5.7%), who continue to boost the dynamism of the labor market.