MercoPress. South Atlantic News Agency

Magallanes lowest unemployment in eight years

Magallanes Region reported in the June-August quarter its best employment situation in eight years with unemployment dropping to 6%, according to the latest release from the Chilean Statistics Institute.

Unemployment dropped 0,1 point over the previous quarter and 2,7 points compared to the same period last year. The 6% is made up of 5,1% effectively unemployed and 0.9% of first time job seekers.

Magallanes is Chile's second region with lowest unemployment and with a work force of 67.090, the number of unemployed represents 4.020 people. In Punta Arenas unemployment was 5,8%, with 2.960 people out of a job.

As to the different activities, retailing, financial services and manufacturing experienced a strong rebound in employment while social, community and personal services actually contracted. In the coming months employment is expected to further advance with tourism, retailing and agriculture picking up.

Magallanes women unemployment in the last twelve months dropped from 8 to 7%.

At national level unemployment in Chile during the June-August quarter also marked a new benchmark with 8,7%, the lowest since 1998.