MercoPress. South Atlantic News Agency

Magallanes and Punta Arenas with lowest unemployment

Magallanes Region in the extreme south of Chile again recorded the lowest unemployment rate in the country during the June-August quarter, according to the latest release from the country's Statistics Office.

While Chile's national average was 7.6%, Magallanes Region unemployment stood at 2.6% and in the capital Punta Arenas, 2.8%, second only to Porvenir, 1.3%, another location in Chilean Tierra del Fuego. Other towns in the extreme south of Chile also fared positively, Puerto Aysen, 3% and Puerto Natales, 4.2%. Magallanes June-August unemployment represents a 0.8 percentage point drop from the same period in 2006 but 0.2 percentage point higher compared to the previous quarter this year, reported Gabriel Parada from the Punta Arenas chapter of the Chilean Statistics Institute. The 2.6% is made up of 2.4% of people who lost their jobs and 0.2% of first time job seekers. However regarding gender, women have a higher unemployment rate, 4.6% compared to the 1.8% of men. Magallanes work force was estimated in 64.360 people and experienced a slight increase of 80 people over the same quarter a year ago. This means that Magallanes residents with jobs total 62.680 and those unemployed 1.680. Excluded from the work force are 55.670 residents. Punta Arenas with a 2.8% rate means that 1.340 people are looking for a job. The Magallanes 2007 June-August quarter unemployment rate is the lowest in the last decade: 1998, 8%; 1999, 8.6%; 2000, 8.4%; 2001, 8.1%; 2002, 8.5%; 2003, 8.7%; 2004, 8.9%; 2005, 6.3%; 2006, 3.4% and 2.6% in 2007. At national level the 7.6% represents a 0.9 percentage point decrease from the same period a year ago, but 0.6 percentage points higher than the previous quarter. Anyhow it is the lowest unemployment rate for this quarter since 1998 when it stood at 6.9%. The 7.6% means 525.020 Chileans are out of work or looking for a job.