Chile's Kast unveils $1.3 billion plan to create 100,000 jobs

SANTIAGO, Sept. 28 (Reuters) - ‌Chilean President ​Jose ​Antonio Kast unveiled a $1.3 billion plan on Monday aimed at creating ‌100,000 jobs through infrastructure, reconstruction, housing, and ⁠community projects.

• In the plan’s summary, the government noted ‌that unemployment has remained ‌above 8% for 43 consecutive months.

• “In the short term, this plan mobilizes 1.3 trillion ​Chilean pesos in investment, public works, and employment measures to generate economic activity ⁠and create more than 100,000 jobs, with effects that will ​begin to be felt over the coming months and through 2027,” the document ​stated.

• The measures are ‌designed to accelerate public investment, encourage hiring through incentives, improve business ⁠liquidity by expediting public payments, and coordinate community projects.

• Chile's unemployment rate hit 9.5% in July ⁠as economic growth slowed in the copper-rich nation that ​is heavily reliant on mineral exports and other natural-resource industries.

• The July figure was the highest unemployment ‌rate since the COVID-19 pandemic in 2021.

• Kast has described unemployment ‌is a "major weakness" for his government and ⁠acknowledged that persistently high ‌joblessness has fueled ​public frustration.

(Report by Fabián Cambero; Writing by Iñigo Alexander. Editing by Lucinda ‌Elliott)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Rwanda open to hosting migrants transferred from Europe, EU lawmakers say
• Watchdog finds problems but no Fed misconduct in Powell-era renovation project
• Google asks EU court to suspend order to open up to AI chatbots, search engine rivals