Chile's Kast Announces $1.3 Billion Plan to Create 100,000 Jobs

Chilean President Jose Antonio Kast has announced a $1.3 billion plan intended to generate more than 100,000 jobs, with the government directing investment toward infrastructure, reconstruction, housing and community projects.

According to the plan's summary, the initiative mobilizes 1.3 trillion Chilean pesos in investment, public works and employment measures. The government said the effects would begin to be felt in the coming months and continue through 2027.

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

The announcement comes as the government noted that unemployment has remained above 8% for 43 consecutive months. Chile's jobless rate reached 9.5% in July, the highest level since the COVID-19 pandemic in 2021, as economic growth slowed in the copper-rich nation that relies heavily on mineral exports and other natural-resource industries.

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