FX.co ★ Chile Jobless Rate Climbs Above Expectations

Chile’s unemployment rate rose to 9.8% in the July–September 2026 quarter, up from 9.6% in the previous period and above market expectations of 9.5%. This was the highest rate since November 2021. The number of unemployed increased by 15.3% year-on-year to around 1 million people, driven both by a rise in layoffs (up 14.4%) and an increase in first-time jobseekers (up 24.7%).

At the same time, total employment declined by 1.1% to 9.27 million, nudging the employment rate down to 55.5% from 55.6%. Job losses were concentrated in manufacturing (-8.1%), information and communications (-20.8%), and financial and insurance activities (-14.1%).

The labour force expanded by 0.3%, with the participation rate inching up to 61.6% from 61.5%. By gender, unemployment remained higher among women at 10.5%, compared with 9.3% for men. On a seasonally adjusted basis, the unemployment rate was 9.6%.