The unemployment rate in Chile was 10.3% during the December 2020-February 2021 quarter, according to the National Statistics Institute of Chile (INE). The figure implied an increase of 2.5 percentage points in twelve months, as a result of the reduction of the labour force (-7.4%) lower than the decrease presented by the employed (-9.9%).
Apple has agreed to pay Chilean consumers $3.4 million in a lawsuit over programmed obsolescence of iPhones, their lawyer said, the first such settlement in Latin America. Apple is accused of having programmed a limited lifespan into some products to force users to replace their phones sooner than necessary, and has previously settled similar cases in the United States and Europe.
Codelco, the world’s largest copper producer said that a resurgence of Covid-19 cases in Chile will not disrupt the supply of the metal. Codelco managed to increase production in the first quarter despite the increase in infections in Chile. “We are this year with an increase in production to date,” said Juan Benavides, Codelco president. In recent years, Codelco has participated in the strongest investment program in the copper industry after decades of underinvestment in its old deposits.
The mining sector is likely to be one of the industries least affected by the lockdowns in Chile, S&P Global Ratings senior economist Elijah Oliveros-Rosen said. There may be some delays in transporting staff, but goods will be unimpeded by the restrictions. Chile had the highest estimated tonnage of copper production in the world in 2020, totaling 5.7 million tonnes, estimated to decrease to 5.4 million tonnes in 2021, according to S&P Global Market Intelligence data.
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