The most recent jobs report by the Bureau of Labor Statistics showed that Chile’s economy contracted in the third quarter, with the unemployment rate increasing to 9.3% from 8.8%.
The U.S. is facing a similar situation, with a 4.9% decline in employment.
The country’s unemployment rate is 8.3%.
The Chilean economy has been hurt by weak export demand and an aging population.
But the government says the economy is growing at a steady pace, thanks to high investment and a rising population.
The country’s jobless rate rose to 10.6% from 9.6%.
In the third-quarter, the unemployment figure was 9.2%.
Economists say that the Chilean economy will grow by about 3% in 2018, which is below the 3.8% growth forecast by the central bank.