Employment in Magallanes Region, extreme south of Chile remains strong according to the latest data released by the Chilean stats office, INE, which covers the fourth quarter of 2015 (October/December). While the national unemployment average stands at 5.8%, Magallanes figures with 2.6 percentage points below.
This means Magallanes is the second best rated, behind the Los Lagos Region which has the lowest unemployment in Chile with 2.3%. Magallanes is followed by Aysén Region with 3.3%
Employment in recent months recovered in Magallanes with a strong demand from the services sector, hotels, lodging, gastronomy, confirming prospects of a very successful summer and Antarctic season.
As to gender, women are in a better position since unemployment is estimated at 2.9% which means a drop of 0.6 percentage points compared to the same quarter in 2014.
Unemployment rate for men stands at 3.5%, a full one percentage point increase, over the same period a year ago, according to INE.
Magallanes has quite a diversified economy which includes, agriculture, mining, fisheries, some manufacturing such as vessel repairs and methanol production, tourism and supplying Antarctica bases, and oil and gas.
This last industry should receive a strong boost following the recent agreement between Argentina and Chile to increase investment for gas and oil exploration in Magallanes and Tierra del Fuego.