In Ecuador 650.000 people lost their jobs during 2020

In Ecuador 1’440.983 people were underemployed during 2019. However, this figure rose to 1’833.072 in 2020.

Around 650.578 people left suitable employment in 2020, according to statistics from the National Institute of Statistics and Censuses (INEC). Experts consider that recovering these indices would take 4 years.

Now 650.578 people are part of underemployed groups and also in unpaid employment. Previously, these citizens received salaries greater than or equal to the basic salary of USD 400.

In 2019 there were 1’440.983 underemployed citizens and in 2020 this number rose to 1’833.072. These people are those who received income less than the basic salary.

Experts consider that the recovery of jobs will depend exclusively on how the vaccination process progresses, which is slow. Several analysts believe that even more people will move from adequate employment to underemployment, to unpaid employment, unemployment and poverty.

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