President Kast Unveils 1.3 Trillion Peso Job Plan

President Jose Antonio Kast unveiled a 1.3 trillion Chilean peso ($1.3 billion) investment plan on Monday designed to create 100,000 jobs. The initiative focuses on infrastructure, reconstruction, housing, and community projects to stimulate economic activity through 2027.

The government is implementing these measures to address an unemployment rate that has remained above 8% for 43 consecutive months. Joblessness peaked at 9.5% in July, marking the highest level since the 2021 pandemic. To combat this trend, the plan will accelerate public investment, provide hiring incentives, and improve business liquidity by expediting public payments.

President Kast described the high unemployment rate as a "major weakness" for his administration and a primary source of public frustration within the copper-reliant economy.