Chile's Unemployment Rate Rises to 9.8%

The unemployment rate in Chile reached 9.8 percent between February and April, indicating that more than 700,000 people are out of work.

The National Institute of Statistic (INE) said the unemployment rate rose 2.2 percent year-on-year and it is the highest figure registered since July-September 2005, local media reported.

Among the worst hit sectors by the global financial crisis are agriculture sector, which lost 43,620 jobs, and construction sector, which lost 28,720 jobs, according to the INE.

Chilean government has launched an economic stimulus plan worth4 billion U.S. dollars to boost the country's economy and fend off the global financial crisis.