Unemployment registered a 4,47% in Ecuador according to INEC

A report published by the National Institute of Statistics and Census (INEC) shows a reduction of the informal sector in the economy thanks to the new calculation methodology applied from this July 16 for the measurement of employment in the informal sector.

The new methodology incorporates to the forma sector those who have a Taxpayer Registration (RUC). Thus, the informal sector in June 2015 was 39.3% with the new methodology, while the previous would have reached 53.4%.

According to the INEC, the previous methodology “would turn into informal those who have a RUC, carry basic accounting, even though they were not required by law to carry a full accounting, said Jose Rosero, director of the entity. He added that _ taxpayers of the Simplified Tax Regime (RISE) were considered informal, despite having a RUC and carrying a basic accounting.

The INEC presented the new series, employment in the informal sector was 39.31% in June 2015 compared to 38.89% in June 2014. As for the unemployment figures, these stood at 4.47% in June 2015, compared to 4.65% registered in June 2014.

Meanwhile, inadequate national employment went up in June 2015 to stand at 49.07% compared with 46.28% in the same month of 2014. The appropriate employment is 45.9% compared to 48.8% of June 2014.

Sources: https://www.ecuadortimes.net/es/2015/07/17/447-fue-el-desempleo-en-ecuador-segun-inec/