Understanding the Strong Performance of the Chilean Labor Market

Abstract

Data from the National Employment Survey of the National Statistics Institute (INE) show a remarkable decline in the unemployment rate, which reached 6% at the end of last year and has remained at similar levels during the first quarter of this year (6.2%). This trend began in late 2009, when the economy was starting to emerge from the effects of the international financial crisis, and it has been sustained ever since. Indeed, according to the available data, employment has risen by almost 20% since mid-2009, even as the number of people entering the labor force grew by 13% over the same period. Continue reading...