MercoPress. South Atlantic News Agency

Unemployment in Punta Arenas 8,6%.

Magallanes Region recorded 8,4% unemployment in the June-August quarter, a 0,1% drop over the same period a year ago, according to the latest release from the Chilean Statistics Institute, INE. However in Punta Arenas unemployment reached 8,6%, which is higher than in other counties of the Region.

Bernardo Troncoso, Regional Economics Ministry representative explained that during the last twelve months Magallanes working force has expanded significantly, and so has job creation, which helps to explain why unemployment has not dropped further.

"We have workers moving in from other regions looking for jobs in fisheries and industry (methanol complex), besides the fact that local women are increasingly joining the labour market", said Mr. Troncoso adding that the 8,4% index is made up of 7,6% who are effectively out of a job and 0,8% first time employment seekers.

However, Magallanes Region unemployment remains below the Chilean national average of 9,4% and is among the country's privileged five Regions regarding employment.

INE June-August quarter figures show that unemployment in Chile dropped 0,2% compared to the same period a year ago with a 2,9% increase in the labour force.

At national level and comparing both quarters in 2002 and 2003, the most employment dynamic sectors have been financial services, 5,3%; manufacturing 4,4%; transport, storage and communications 4,4%; agriculture, fisheries 3,8%; Community and personal services 3,6%; public utilities 2,5% and retailing 1,7%. On the opposite ranking, mining and quarries lost 1,1% jobs and construction in spite of an important rebound in the industry employment dropped 0,8%.