Chile unemployment drops to 12.9pc, remains near decade-long high

SANTIAGO: Chile's unemployment rate fell to 12.9pc in June through August, the government said on Wednesday, but remained near a decade-long high as the coroanvirus pandemic continued to weigh on the economy.

The improvement in the unemployment rate beat market expectations, but remained above the same period the previous year.

At a press conference, the head of the national statistics agency, Sandra Quijada, noted the improvement but said that it was too early to call it a trend.

Chile registered its first cases of coronavirus in March.

Since then, confinement measures forced many businesses to close, sending unemployment spiraling upwards. The economy has gradually re-opened in recent months.