Unemployment in Ecuador was 3.2 percent in May, which is a lower percentage than in the last two years. In May 2021, it was 6.3%, and in May 2022, it was 3.7%.

The National Institute of Statistics and Census (INEC) published its monthly report quantifying that out of 8,263,434 economically active people: 3 million have adequate employment, almost 5 million have other types of employment, even unpaid, and 264,000 are without work. .

Unemployment in Ecuador is 4% as of April 2023

Adequate employment saw the largest increase, from 33.2% in May 2022 to 36.4% in May 2023. Adequate employment refers to those who receive work income equal to or greater than the minimum wage and work 40 hours per day per week or less , but there is no desire for additional work.

While underemployment fell from 22.1% to 18.9%. This category includes employed people who receive income below the minimum wage and/or have worked less than the legal shift, and have the desire and availability to work additional hours.

2023 is off to a better start than 2022 in terms of unemployment, with the rate at 3.8% in January

Analyzing unemployment according to management, INEC notes that open unemployment is greater than hidden, since according to the results, 2.9% of EAPs at the national level were actively looking for work (open unemployment); and 0.3% were unemployed without conducting any search action (hidden unemployment), but with availability for work.

From the data for the first quarter of 2023, it can be seen which cities had better working conditions. For example, in Cuenca adequate employment is 59%, followed by Quito with 58.1%. Then there is Guayaquil with 47.3% and Ambato with 43.5% and Machala with 43.2%.

While unemployment is higher in Quito at 8.6% in the first quarter. From there are Machala with 7.2%; Ambato with 4%; Cuenca with 3.5% and Guayaquil with 3.4%.