Macroeconomic Forecast Chile

BMI View: Chile's unemployment rate ticked up again in March to 9.0%, the highest level since November last year. The increase comes as little surprise given the damage done to labour-intensive industries in the centre of the country by February's massive earthquake. While government employment-creation programmes, in conjunction with the broader economic recovery still in play elsewhere in the country, are likely to see the jobless rate fall in the latter stages of the year, the risks to our 7.0% end-2010 are tilted to the upside.

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