The latest official survey on unemployment in Ecuador shows that this indicator has fallen, and in August 2023, 3.5% of the economically active population (EAP) was without a job, while a year ago it was 4%.
The National Institute of Statistics and Censuses (INEC) has published the latest National Survey on Employment, Unemployment and Underemployment, which states that the unemployment rate – which stood at 4% in August 2022 – is decreasing. Last May it was 3.2%; in June 3.8%; in July 3.7% and in August 3.5%.
2023 starts better than 2022 in terms of unemployment, with a rate of 3.8% in January
This reduction of 0.5% in one year is considered by INEC to be an insignificant reduction. Separated by area, the unemployment rate was 4.5% for the urban area, while it was 1.4% for the rural area.
Adequate employment also improved, rising to 35% compared to August 2022, when it stood at 33.3% of EAP. Thus, INEC’s August data show that out of an economically active population of 8,507,480, 8,211,821 people are employed, and of these 2,975,380 have a job where they earn minimum wage or more.
Underemployment fell from 23.1% to 21.2% between August 2022 and 2023 (I)
Source: Eluniverso
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