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INEC announces that full employment stood at 33.7% and unemployment at 4.1% in October of this year

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The Figures for employment, unemployment and underemployment in October show a slight recovery compared to the previous year. The full employment -when a person earns at least the basic salary and works at least 40 hours a week- goes from 32% to 33.7%. In numbers of workers, according to data from the National Institute of Statistics and Censuses (INEC), the figure goes from 2’684,258 to 2’928,005, in the twelve months analysed.

is also recorded a drop in unemployment, in one year from 4.6% to 4.1%; this is a decrease that goes from 384,204 to 354,509 unemployed. In both cases, the differences they are not statistically significant.

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On the other hand the underemployment does register a statistically significant difference and makes it go from 2,005,393 to 1,728,936, also in one year. This in percentage represents a drop from 23.9% to 19.9%. Additionally the Other non-full employment had a significant rise, going from 2,325,628 to 2,637,893 people in this employment condition. The increase in the percentage that is statistically significant indicates that it goes from 27.7% to 30.4%.

About the topic, Diego García, professor at the Faculty of Economic and Business Sciences of the Technical University of Loja (UTPL), considers that this month’s data from the INEC do not reveal important changes in an employment structure that has had precarious data for many years. He explains that a significant increase in full employment cannot be seen, which would be encouraging data. Meanwhile, internal movements in less than full employment reveal the conditions in which people are working and that there are really no opportunities for full employment.

Regarding the significant increase in Other non-full employment, he considered that it probably reflects a certain conformity of citizens in the face of an economy that is not growing very strongly and that does not offer more jobs. “Possibly they do not feel encouraged to look for work,” he said

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It is that the other non-full employment, which is the one that had the greatest difference, “includes employed people who, during the reference week, received income below the minimum wage and/or worked less than the legal day and do not have the desire and willingness to work additional hours.

According to García, for these conditions to change, positive economic conditions should be created. This happens to control theto insecurity, attract investment, strengthen the institutional framework, manage social unrest, among others.

Additionally, he considers that there should be a labor flexibility, but without affecting the rights of workers. García believes that one way to support job creation by the State would be to give incentives to companies. However, he comments that these decisions should not be made only from the desks of public servants, but from a dialogue with stakeholders, especially the entrepreneurs themselves.

Within the INEC analysis it was also possible to see that unemployment according to gender continues to be more pronounced for women than for men. According to the figure, unemployment in women is in the order of 5.1%, a figure higher than that of men, which stands at 3.6%. In any case, female unemployment fell in one year, from 5.9% to 5.1%, and male unemployment also fell from 3.6% to 3.3%. As already mentioned, national unemployment reaches 4.1% at this time. (YO)

Source: Eluniverso

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