The unemployment rate in the country stood at 5.7% in February, almost at the same level as indicated by the INEC in January 2021, the date since the monthly publication of the labor market figures began. The accounting for the survey, which, due to the use of a different methodology is not “strictly comparable” to other years, is more than 5% of the result of last December.
Based on the figures of the Ecuadorian Institute of Statistics and Censuses (INEC), delivered this Monday, March 22, 2021, the detriment of the labor market continued to be reflected in the adequate employment rate, after falling from 34% to 33%, which that in real numbers it was a loss of 84.381 places, this time being men the most affected.
In the first month of the year, the adequate employment rate for men was 39%, but it fell to 37.7%, while the indicator for women went from 27.2 to 27.1%.
Consistent with the report, the underemployment rate also worsened, growing in one month from 22 to 23%. This means that, in January, a total of 1´854.935 people worked less than 8 hours a week and earned below the basic salary (USD 400), but in February, the figure increased to 1’916.935. From January to February of this year, 62.000 more people went into underemployment
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