MercoPress. South Atlantic News Agency

Unemployment in Chile stable at 9,4%

Unemployment in Chile reached 9,4% in the August/October quarter according to the country's Statistics Institute. This represents a slight 0,6% increase over the same period a year ago and a 0,3% contraction compared to the previous quarter.

The areas with a greater increase in jobs were Community, Social and Personal services, Retailing, Construction and Mining and Quarries.

The 0,6% increase in unemployment is explained because the work force expanded 3,4% (202,590) and job creation 2,7% (147,140).

"The 9,4 percentage indicates, according to what I was told by the Labour Minister, that in twelve months 150,000 jobs have been created, which is a good number", said Chilean president Ricardo Lagos commenting on the latest unemployment release.

"It's a percentage indicating that the economy is recovering, but 9,4% is still too high and therefore we must keep pushing and making our greatest efforts to create new jobs", added Mr. Lagos.

Other economy fundamentals indicate that industrial production in Chile last October expanded 5,2% and sales 4%. Similarly electricity energy increased 5,5% compared to October 2003 and house building in the ten months of 2004, 3,3% over the same period a year ago.

Mining expanded 12,7% last October over the same month in 2003 and 7,5% compared to September. Copper production the country's main export reached 485,458 tons during October, equivalent to a 13,8% increase in twelve months.