Unemployment in Ecuador

Ecuador Unemployment | Economic News & Forecasts

Ecuador - Unemployment

On the heels of the sharpest GDP contraction in at least two decades in Q2 owing to the Covid-19 shock, available data suggests that conditions improved somewhat in Q3, but remained downbeat overall. Although the decline in economic activity eased from April’s collapse through July, it sharpened slightly again in August. Moreover, following weather-related disruptions to the country’s two main pipelines that sent oil production crashing in Q2, output rose by around 50%, on average, in July–August. However, the recovery in oil prices was cut short and plateaued for the entire third quarter, while crude production was still down year-on-year in that two-month period. Additionally, credit growth slowed for the sixth month running in August, hitting a near four-year low, which, coupled with sustained and significant import compression in July–August, hints at internal demand still struggling to gain traction.

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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