Twenty-seven percent of Ecuadorians living on less than $2.56 a day
The INEC urban labour market stats for March are out. The report (termed ENEMDU) shows a barely reduced unemployment rate: 4.6%, compared to 4.9% for the same month last year.
The INEC (the national statistics institute) also registers underemployment to be at 44.7% (up from 43.5% last year) and full employment to be enjoyed by 48.6% of the working population (down from 50.2% last year).
The new poverty line is $2.56 a day.
Urban poverty rates (people earning less than $2.56 a day) are up almost two points: 17.7%, versus 16% in March 2012. The rate of people living in extreme poverty (earning less than $1 a day) is steady at 4.4%.
The report says that 8 out of 10 jobs in urban areas are private sector jobs.
The GINI ratio measures the rate of income inequality in a given population. On a scale of zero to 1, where zero is perfect equality, Ecuador’s urban GINI rate is 0.45, the same as March 2012.
Ecuadors overall poverty rate, measuring both urban and rural areas, is 27.3%.
