Unemployment in Ecuador

Ecuador Unemployment | Economic News & Forecasts

Ecuador - Unemployment

The economy likely contracted markedly in Q2, weighed on by the twin impact of tumbling oil prices and the pandemic. Economic activity in June shrank at yet another record pace, indicating that GDP contracted by about a fifth across the entire quarter, as measures enacted to curtail the spread of Covid-19 hampered the manufacturing and commerce sectors. Furthermore, oil production nosedived by a third in the quarter as a whole, only partially recovering in June, boding ill for exports and government revenues. More positively, an agreement was reached on 28 August with the IMF to borrow about USD 6.5 billion to bolster public health spending amid a persistently high number of daily cases. Meanwhile, S&P Global Ratings and Fitch Ratings both raised their ratings to B- with stable outlooks on 1 and 3 September, respectively, following the completion of debt restructuring plans in early August.

Ecuador - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate4.3  5.4  4.4  4.1  -     

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Ecuador Unemployment Chart

Ecuador Unemployment
Note: Unemployment in % of active population.
Source: National Statistical Institute.

Ecuador Facts

Value Change Date
Exchange Rate25,0000.0 %Dec 31

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