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Unemployment affects future income, Chile’s fired employees’ new jobs, wages cut by more than 10%

Many large American companies made profits during the epidemic, but they are still laying off workers.

November 2nd South American Overseas Chinese News Network: according to the latest data released by the Chilean Public Research Center (CEP)

employees who have been on the job for 7 years will receive a higher salary on average when they find a job after being dismissed.

The original reduction was 9.5%; and the number of employees who have been employed for 10 years will be reduced by 13% (calculated by the hour).

According to reports, this study shows that unemployment will not only affect the “current income” of the unemployed’s family, but also the “future income” of the unemployed’s new job.

According to reports, Coronavirus Pandemic has the greatest impact on labor-intensive industries such as the accommodation, catering, and construction industries in Chile.

Claudio Parés, an economist at the University of Concepcion (UdeC) in Chile, pointed out that even if the Chilean economy recovers in the future, the unemployment rate will remain high for a long time. 

This phenomenon is called “Jobless Recovery”, that is, while the country’s economy is recovering and growing, the unemployment rate has reached the highest economic phenomenon in history.

This means that on the one hand, the national economy has begun to improve, while on the other hand, economic recovery has not driven employment growth.

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