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Ecuador records increase in unemployment at the end of 2015, by 4.77%
Posted On 19 Jan 2016
Ecuador recorded a 4.77% of unemployment in December 2015, compared with 3.80% in the same month of 2014, reported Monday the National Institute of Statistics and Census (INEC).
The margin “represents a statistically significant difference, according to the latest National Survey of Employment and Unemployment,” stated the agency in a press release.
In its previous report, the INEC recorded unemployment of 4.28% in September 2015, against 3.90% in the same month of 2014.
The agency added that underemployment increased from 12.87% in December 2014 to 14.01% in the same month of 2015.
Meanwhile, proper employment (when a worker earns at least the basic wage and works 40 hours per week) decreased by 2.8 points, going from 49.28% in December 2014 to 46.50% in December 2015.
Ecuador, a country of 16.3 million inhabitants, has an economically active population (EAP) of about 7.6 million people.
