Overall Score

4.7 in 2015 4.8
0 2.5 5 7.5 10

Key Finding

The past year was characterised by rising unemployment rates in Chile. Skills mismatch is continuing to ease as a result of a reduction in vacancies. The country’s higher participation rates push the final score further down.

BREAKDOWN OF SEVEN INDICATOR SCORES

Scores
0 2.5 5 7.5 10
Education
flexibility
5.9
Labour market
participation
5.1
Labour market
flexibility
6.2
Talent
mismatch
2.9
Overall wage
pressure
5.8
Wage pressure in
high-skill industries
5.0
Wage pressure in
high-skill occupations
1.8

COUNTRY OVERVIEW

View from the ground

Last year was characterised by rising unemployment and economic growth around two per cent. Chile continues to face important challenges and so management of the economy must be fiscally responsible in order to provide a solid foundation for maintaining and increasing the country’s medium- and long-term growth. The country has experienced an economic slowdown over the past two years, this year it is still expected to grow but at a slower pace. During this time government reforms were undertaken, but have not helped to tackle the country’s poor productivity.

Pedro Lacerda, Managing Director, Hays Chile

Country Profile

The outlook for Chile remains mixed. While both consumer and business sentiment stayed at pessimistic levels, reflecting uncertainty about the impact of constitutional and labour market reforms, nominal wage growth continues to outstrip inflation and industrial production may be stabilising.

Over the last year, a mini boom in the construction sector which spurred job creation has kept unemployment low.

Pedro Lacerda, Managing Director, Hays Chile

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