Unemployment fell 1.3 points in Ecuador, according to INEC

The National Institute of Statistics and Censuses (INEC) presented the results of the National Survey of Employment, Unemployment and Underemployment in Ecuador (ENEMDU), corresponding to the month of July 2022.

The unemployment rate reached 3.9% compared to 5.2% in the same period in 2021. That is, it experienced a significant reduction of 1.3 percentage points.

The unemployment rate was 4.9% for the urban area, while for the rural area it was 1.9% in this 2022.

The institution also pointed out that the adequate employment rate was 32.1%, which is equivalent to 2,752,904.

The INEC points out that adequate employment occurs when the person who, during the reference week, receives labor income equal to or greater than the minimum wage, and works equal to or more than 40 hours a week.

At another point, the rate of underemployment at the national level was 22.0%, with 1,890,850.

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