Labour costs in the business services sector in Chile have consistently increased from 2013 to 2023, reaching 35.555 trillion Chilean Pesos in 2023. The year-on-year growth has recently decelerated from earlier years, showing a 2.93% increase in 2023, consistent with a declining trend observed over the last few years. From 2018 to 2023, the average change per year (CAGR) has been 2.88%.

Looking ahead, forecasts indicate a moderate growth rate with a forecasted 5-year CAGR of 1.98% and an overall growth rate of 10.32% by 2028. This suggests that while the rise in labour costs will continue, the pace will further decelerate compared to past trends.

Future trends to watch for:

Potential impacts of economic policy changes on labour market conditions.
Technological advancements that could increase efficiency and alter labour demand in business services.
Global economic factors that could affect wage inflation and labour cost trends in Chile.