MercoPress. South Atlantic News Agency

Magallanes Region has lowest unemployment in Chile

Magallanes again ranks as the Region with the lowest unemployment rate in Chile according to the latest report from the National Statistics Institute.

The release shows Magallanes Region with the jobless rate at 4.2% in the August-October quarter compared to the national average of 7.4%.

The latest percentage represents a slight drop from 4.3% in the previous quarter and 3.1 points less that the same quarter a year ago.

At national level the unemployment tendency has also been declining to 7.4% from 7.9% the previous quarter and 9.4% in the 2005 August-October quarter.

The unemployment rate in Magallanes was made up of 3.8% hard core and 0.4% new job seekers. Punta Arenas unemployment level was 4.6% which means 2.180 people are out of a job.

Magallanes work force in the August/October quarter was 65.740 people which represent a 1.3% drop from the same quarter a year ago and a slight 0.1% increase over the previous quarter.

Magallanes has therefore 62.970 people with jobs and 2.770 unemployed, while people not belonging to the work force total 55.420.