Ecuador: Analysis states four decades of an oil economy has failed to reduce poverty

Posted on September 1, 2013 • Filed under: Economy, Ecuador, Oil

operating four decades have not resulted in actual poverty reduction and job quality. In the country, the report of June this year the INEC, 23.69% of the population lives in poverty, 8.51% in extreme poverty and more than half of the economically active population (56.39%) is underemployment. Compared to June 2012, poverty fell by 1.65% and from 2006 to 2012, fell by 10 points, according to INEC. The decline after the crisis began. Between 1999 and 2002, poverty fell from 63.5% to 49%, according to official figures. Within a year unemployment fell less than half a point, from 5.20% to 4.89%, but also full employment: from 50.11% to 46.92%. Read Article


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