Chile’s jobless rate fell to 6.9% between May and July, down 0.1 percentage point from the second quarter of 2017 and 0.2 percentage point from the May to July quarter in 2016, said the country’s statistics office.

The decline in the unemployment rate reflects a 2.2% annual increase in the number of employed people in the quarter until July, which rose faster than the total available workforce (+1.9%). Meanwhile, the number of jobless people decreased by 2.0%.

The participation rate remained stable, at 59.5%, while the employment rate rose by 0.2 percentage point, to 55.4%.

In absolute terms, the number of working people totaled 8,231,570, while the unemployed were 607,190. Chilean workforce totaled 8,838,770 people between May and July.

The material has been provided by InstaForex Company –