In September of this year, the unemployment rate was 3.7% and recorded a slight jump compared to August last year (3.5%). In this way, this indicator that shows how many Ecuadorians in the economically active population (EAP) are unemployed, returns to the indices of last July when it also reflected 3.5%, according to the latest National Employment Survey, Unemployment and Underemployment, published this Tuesday State Institute for Statistics and Censuses (INEC).
Meanwhile, if compared to that of September 2022 (4.1%), it reflects a decrease of 0.40%. Separated by area, the unemployment rate in September of last year was 4.8 percent for the urban area, while it was 1.6 percent for the rural area.
Low unemployment rate in Ecuador: 3.5% of the economically active population does not have a job
Meanwhile, corresponding employment rates improved to 35.5% in September, up 0.50% from last August (35%) and up 0.10% from September 2022 (35, 4%) PEA.
Thus, INEC’s August data show that out of an economically active population of 8,768,992, 8,446,444 are employed, and of these, 3,110,029 have a job where they earn minimum wage or more.
Underemployment fell from 20.3% to 20.2% between September 2022 and 2023. Meanwhile, INEC highlights as a statistically significant difference the rate of unpaid employment in the urban area, which fell from 272,938 people to 202,798.
Source: Eluniverso
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