Unemployment rate of 2015 returned to the level of 2007 in Ecuador
Posted On 01 Mar 2016
Ecuador closed 2015 with 357,892 unemployed people, 13% more than in 2007, which totaled 316,697 and if comparing the percentage of unemployed people in relation to the economically active population (EAP), there is no a significant variation in both years: the unemployment rate in 2015 was 4.77%, while in 2007 it was 5%.
During these nine years, the labor force grew by 18%, going from 6.3 to 7.4 million people. In other words, 1.1 million people from age 15 (minimum working age) entered the labor market, but the creation of jobs has been limited.