Chile's labor market hits 38 months of unemployment above 8% as growth forecast is revised down

Chile's unemployment rate stood at 8.9% during the moving quarter from January to March 2026, a 0.2 percentage point increase over twelve months, according to data released on Wednesday by the National Statistics Institute (INE). The figure exceeded market expectations, which projected 8.6% according to the Bloomberg consensus, and completes 38 consecutive months with the indicator above 8%, confirming a structural weakness in the Chilean labor market that remains one of the main concerns of President José Antonio Kast's administration, in office since March 11.