Deterioration in labour market not yet hitting unemployment – Chile’s Marcel

Self-employment in Chile has acted as a “significant buffer” to the “loss of dynamism” in wage employment, the governor of the Central Bank of Chile has said in remarks updating the public on the state of the economy.

In his update, published on April 20, Mario Marcel noted the labour market was continuing to “gradually adjust” but could become a “drag on consumption”.

“Wage employment declined by 2% annually in the moving quarter that ended in February, and annual wage growth moderated,”