Chile's new employment subsidy draws 70,000 applications in first day as unemployment hits 9.6%

Chile launched a Unified Employment Subsidy to incentivize formal hiring, attracting 70,000 applications on day one. The program targets women, youth, and those over 55, amid unemployment at 9.6%, the highest in five years. The high uptake signals labor market stress and potential fiscal cost, but program effectiveness remains uncertain.