Spain's job market improves as Chile's hidden unemployment rises

Spain’s labour market showed renewed strength in the latest figures, with the unemployment rate falling to its lowest level in years and Social Security affiliation exceeding 22 million workers. The decline was driven primarily by sectors such as services, tourism, hospitality and transport, although youth unemployment and regional disparities remain concerns.

In Chile, researchers from Fundación SOL warned that the official unemployment rate of 9.4 % understates the true situation. Their analysis, which incorporates discouraged workers and those working only a few hours, estimates a hidden unemployment rate of about 13.2 %. The study also highlights a growing share of older workers and an increase in second jobs as households cope with low wages and a high cost of living.