Unemployment in Ecuador

Ecuador Unemployment | Economic News & Forecasts

Ecuador - Unemployment

Key indicators suggest the economy lost traction in the first quarter. Exports fell in January–February on a contraction in the sales of oil and lower export earnings ate into the public coffers. Moreover, slower average real wage growth and reduced credit availability likely constrained private consumption in Q1. This, coupled with a plunge in capital spending as part of fiscal adjustment efforts, further supports the likelihood of a deceleration in the quarter. While the economic activity index improved slightly in the first two months of Q1, overall the data points to a slower expansion. In the political arena, the government is set to present a second package of reforms to the National Assembly by the end of May. This includes a series of labor market reforms that will seek to improve access to formal employment and reduce the costs of hiring and firing workers, which should help curb the rise of the informal economy and lift living standards.

Ecuador - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate4.0  4.3  4.3  5.4  -     

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Ecuador Unemployment Chart

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

Ecuador Facts

Exchange Rate25,0000.0 %May 13
Stock Market1,3610.17 %May 13

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