(3) INE denotes salaried formal employment; AFP measures number of dependent contributors, salaried public workers, and household help whose employer made normal payments to the individual pension fund capitalization account; AFC refers to number of dependent contributors (salaried private workers) whose employer made normal payments to unemployment insurance. Sources: Pontifical Catholic University Survey Center, INE, Superintendency of Pensions, and University of Chile. Figure 4 Employment by skill level (1)(2) (difference with respect to March 2020; millions of persons) 0.5  High skilled  Medium skill  Low skilled  Total employed  0.0  -0.5  -1.0  -1.5  -2.0 Jan-18  Apr-18  Jul-18  Oct-18  Jan-19  Apr-19  Jul-19  Oct-19  Jan-20  Apr-20  Jul-20  Oct-20  Jan-21  Apr-21  (1) According to the International Labor Organization (ILO), the skill level is measured by considering the following aspects: (i) nature of work performed in relation with characteristic tasks and duties (ii) formal education level necessary for competent performance of the job; and (iii) amount of informal training on the job and/or previous experience in related occupation that is required for competent performance of the job (2) Data in quarterly moving averages. Sources: National Statistics Institute (INE) and ILO.
Daleep Singh: Implementing the Fed’s facilities - moving at maximum speed with maximum care Remarks (via audio webinar) by Mr Daleep Singh, Executive Vice President and Head of the Markets Group of the Federal Reserve Bank of New York, before the Money Marketeers of New York University, 17 April 2020. * * * As prepared for delivery Good morning everyone. Thanks for being here, and let me begin by offering best wishes for everyone’s health under these difficult circumstances. I should also make clear at the outset that the views I express are my own and do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System. In my remarks today I’d like to review the context in which the Federal Reserve launched an unprecedented set of policy actions, and I will then describe our approach to standing up emergency facilities at maximum speed with maximum care as we execute our mission. Context in Mid-March As you will no doubt recall, financial markets in mid-March were seized by the uncertainty caused by virus outbreak, both in terms of the speed and scale of impact on the economic outlook, and for society as a whole. Extreme uncertainty triggered unprecedented market volatility across asset classes, escalating into a system-wide deleveraging event that appeared to overwhelm the capacity of financial intermediaries to absorb and transfer risk in an orderly manner.