LatinNews Daily - 03 August 2020

* Chile’s national statistics institute (INE) has released the latest unemployment figures, according to which Chile’s unemployment rate rose to 12.2% in the April-June rolling quarter, the highest such rate since the INE began measuring it 10 years ago. The unemployment rate has risen by 4.9 percentage points in comparison to the same period in 2019, and according to local media, it is the highest unemployment rate recorded in the country since 1987. Self-employed workers have suffered the most, with a 34.7% fall in employment, while formal workers have decreased by 10%. The sectors with the largest falls in employment have been retail (-24%), construction (-30.6%), and housing and food services (-48.5%). The INE highlighted that the population outside of the workforce has risen by 31.6%, as many unemployed people are currently not seeking work due to mobility restrictions related to the coronavirus (Covid-19) quarantine measures. The INE also added that the government’s furlough scheme has left 18.1% of employed population inactive, equivalent to 801,100 people. 

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