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Informal job rates ramp up in Ecuador – INEC

Quito, Oct 24 (Prensa Latina) Gallup Employment, Unemployment and Underemployment conducted in September by the National Institute of Statistics and Census (INEC), revealed on Tuesday that labor informality continues to surge in Ecuador.

According to the Gallup, 54.4% out of all employed were in the informal economy sector.These figures unfolded that job informality rate ramped up by 2.3% compared to 2022.

Meanwhile, the INEC revealed that people with adequate employment earn at least the basic wage, US$450, and work a full eight-hour day. However, this does not mean that they work in the formal economy sector, the report referred.

It implies that over half of Ecuador’s economically active population neither works 40 hours a week, nor does it receive the minimum of US$450 a month, nor does this population has guarantees in case of accident or illness, or benefits such as maternity or paternity leave.

Just 36.4% of workers are legally employed, while the city with the highest unemployment rate is Quito, the country’s capital, with 7.8%,

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