MercoPress. South Atlantic News Agency

Magallanes Region with lowest unemployment rate: 3.4%

For the second quarter running Magallanes was Chile's Region with the lowest unemployment, 3.4%, according to the latest release from the National Statistics Institute.

The June-August quarter figure is 2.9 points less than the same period a year ago and compares favorably with Chile's national unemployment average of 8.5%.

"This is particularly encouraging since it occurs off season when the tourism thrust has yet to arrive", indicated Magallanes Mayor Eugenia Mancilla, adding that they also indicate a "more stable labor market both for women and men from the region".

Magallanes working force now stands at 64.280 people of which 62.070 are employed and 2.210 were out of a job. Compared to the same quarter a year ago this means the number of unemployed has contracted 1.880.

According to Mayor Mancilla the data shows that Magallanes region has 45.150 fully employed dependents with all benefits.

"This means that 75% of the labor force have a contract, more stability and are ensured payments to social security".

Second to Magallanes in the lowest unemployment ranking is the Region of Los Lagos with 6.8%, which is 3.4 points higher.

Mancilla described the employment situation in Magallanes as "solid" and said that in the last twelve months 1.500 people have joined the ranks of the employed.

The good employment figures also included women, whose unemployment dropped from to 4.4% in the June-August quarter from 4.7% the previous quarter.

"This is significant: women are being employed even in winter which is the most complex period for the labor market. Don't forget that in the first quarter of 2006, women unemployment ranged between 6 to 7%", said Mancilla.

At national level Chile's unemployment dropped to 8.5% compared to 8.8% in the May-July quarter.

"The global labor market in the last 12 months has seen a cut in the labor force, an increase in employment, and a marked reduction in the number of unemployed," the Statistics Institute said in the report.

The unemployment rate was 8.7% in the June-to-August period last year.