22
Ecuador
7,878
7,702
7,355
7,653
7,920
Q4
2019
Q2 2020 Q4 2020 Q2 2021 Q4 2021
5.9%
4.9%
6.6%
6.1%
6.6%
Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021
Q4 2021
Total Labor Force (000s)
8,479
Employed Workers (000s) 7,920
Unemployed Workers (000s) 560
Unemployment Rate 6.6%
76% - First Vaccine Dose
(December 2021)
Covid Update
The new president has
prioritised vaccine take
up.
Workers who have
received their vaccines
and waited two weeks are
returning to work.
12%
25%
12%
0%
25%
50%
75%
Employer Tax Profit Tax VAT
Ecuador Regional Average
Other Cost Considerations - Tax
Indicative Wages (USD)
$597
$603
$2.78
$0
$5
$10
$0
$2,500
$5,000
Average Wage Manufacturing
Wage
Minimum Wage
Ecuador Regional Average
45%
45%
44% 44%
40%
42%
42%
41%
41%
31%
68%
68%
67%
66%
60%
0%
20%
40%
60%
80%
2016
2017 2018 2019
2020
15-24 years 65+ years Total
Labor Force Participation Rate by Selected Age Group Working Population (in Thousands) Over Time
Unemployment Rate Over Time
Labor Force Statistics
ILOSTAT
Monthly Hourly
Key Sources:
https://wageindicator.org/
https://ilostat.ilo.org/
https://www.worldbank.org/
https://tradingeconomics.com/
https://home.kpmg/xx/en/home.html
https://taxsummaries.pwc.com/
https://www.ecuadorencifras.gob.ec/estadisticas-laborales-septiembre-2021/
