Unemployment in Magallanes Region, extreme south of Chile reached 4% in the March/May quarter, which is 1.2 percentage points higher than a year ago, and 0.3 percentage points more than the previous mobile quarter, according to the latest report from the country's Stats Office, INE.
Magallanes region in the extreme south of Chile reported the lowest unemployment rate in the country, 2.3% during the September-November mobile quarter according to the country's latest release from the Stats Office. This represents 1.8 percentage points less than the same period a year ago (4.1%).
Magallanes Region in the extreme south of Chile had a 3.2% unemployment rate in the third quarter of the year, according to the latest Chilean Stats Office, INE, report. This is the second lowest in the country, behind Aysén Region and marks a slight drop compared to the immediate previous quarter June/July/August, 3,3%.
Magallanes region in the extreme south of Chile, was the most dynamic of the country's economy during the third quarter of the year according to the latest release from the local stats office, INE. This contrasts with the rest of the fourteen regions of the country of which six, reported negative growth.
The extreme south region of Chile, Magallanes continues with record low unemployment, less than half the national average, according to the official stats for the mobile June/August quarter. While the Chilean national average unemployment is 6.7% in Magallanes it stands at 3.3%, and 0.8 percentage points less than a year ago.
Magallanes Region economy (in the extreme south of Chile) received an injection of 220 million dollars from the 630.000 tourists that arrived by air, sea or land to the area during 2013, according to the latest release form the regional Tourism Office (Sernatur).
Although overall Chile is undergoing a period of economic deceleration, which the government is trying to address with lower rates and full execution of public works investments, the Magallanes region in the extreme south of the country was among those with the best performance in the second quarter having expanded a healthy 2.8%.
Oil and gas explorer GeoPark expects to end the year having drilled 35 wells in Chilean Magallanes and Tierra del Fuego, which must be added to the 560 million dollars the company has invested in the region since it began operations in 2006, said the company in an economic impact report presented by consultants Gemines.
Chile’s government oil and gas company, ENAP, confirmed a successful experiment with hydraulic fracturing to extract non conventional tight gas at the Arenal Block in Tierra del Fuego, where the company operates with no partners.
The Chilean government efforts to develop Puerto Williams in the extreme south of the country as an austral tourism centre and gateway to Antarctica received an ‘excellent’ feedback from the recent IAATO annual meeting held in Punta Arenas.