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Chile
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Chile
Chile, with a GDP of $335.5 billion, is the 45th largest economy globally. Its key industries include copper, lithium, and foodstuffs. Despite a 9% unemployment rate, the labor market remains stable, supported by a balanced working-age population. With a medium number of recruitment agencies, Chile offers potential for talent sourcing.
Chile'S
AGENCY LANDSCAPE
700
Agencies operating in Chile
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
14-18%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Chile'S
FEATURED AGENCIES
Pacifica Continental
Robert Walters
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Chile'S
GROSS DOMESTIC PRODUCT (GDP) RATING
45
WORLD RANKED
Chile ranks 45th in the world by current economic output
$336B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
5
LATAM RANKED
Chile is the 5th biggest GDP in LATAM out of 20 countries in the region
GDP GROWTH (%)
The above chart compares how Chile's GDP has grown, compared to the rest of the world and the LATAM region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Chile'S
CURRENCY AND CODE
CL$
Country currency
CHL
Country ISO code
Chile'S
INFLATION RATE
3.2%
CURRENT RATE
▼4.4% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Chile'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Chile'S
LABOUR STATISTICS
18M
POPULATION
With a population of 17,574,003, Chile is a medium sized country by global standards. Chile's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Chile is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Chile's elderly population is close to the world average, suggesting a manageable dependency ratio, where the working-age population can effectively support the elderly.
Chile'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Chile'S
UNEMPLOYMENT RATE
9.0%
CURRENT PERCENTAGE
▲0.74% INCREASE
Chile has a severly unhealthy unemployment rate, signalling there is significant economic problems. Between 2022 and 2023, there was a moderate increase in unemployment, suggesting a negative shift in economic stability with a slight dip in job availability
Chile'S
TOP PERFORMING INDUSTRIES
Top industries
Copper
Lithium
Foodstuffs
Chile'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
71
/
52
Male | Female
In Chile there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Chile'S
WORKING LIFE
$20K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$1.6K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Chile'S
WORKING LIFE
16DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
45HRS
Average working full time week
Standard work hours are 9 hours/day, 45 hours/week, with a Monday to Friday workweek. Overtime pay applies for hours beyond these limits.
Chile'S
TOP BENEFITS
126DAYS
Maternity leave
Maternity: 126 days paid leave split pre/post birth, capped salary paid by Social Security; extendable. Paternity: 7 days paid leave, employer-paid. Parental: Up to 144 days, full/half-day options, healthcare system-paid.
unlimited
Sick leave
Chilean employees get unlimited paid sick leave, funded by their healthcare provider (ISAPRE or FONASA) after 6 months of contributions. First 3 days are unpaid, 4-10 days get normal salary minus 3 days, 11+ days fully paid. Salary is based on the last 3 months' average, up to 86UF/month. Sick notes are processed electronically within 3 days.
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