ECUADOR AND ECONOMICS CONCERNS
TABITHA MCCOY
AMERICAN INTERCONTINENTAL UNIVERSITY
ABSTRACT
The author will select a South American Country. The South American Country selected is Ecuador. The author will discuss the Economic concerns of Unemployment and Labor. The author will also define Unemployment. The author will briefly discuss the Education as it relates to one of the Economic Concerns of Ecuador.
The South American Country selected to discuss is Ecuador. This country has a population of 15,234,429 people as of last known data received in July 2013. Ecuador capital city is Quito. The people of the South American Country recently in 2001 adopted the use of the United State Dollar as is currency. Ecuador has several Economic Concerns, however one concerns that attracted my encounter with this South …show more content…
The Unemployment Rate consist of the percentage of the total number of unemployed people divided by the total number of people in the labor force (Editorial, Board). As of 2012 Ecuador’s Unemployment Rate is 4.9%. Ecuador’s Economy is currently at a growing pace. This allowed the government spending to increase by creating infrastructure projects. This caused Ecuador’s GDP to increase.
The current GDP growth rate is 5% in Ecuador. One of the reason the Unemployment rate is 4.9% is because of the diversity of the labor market. The Labor Market consist of a competitive and different types of employment. With the Economy expanding and new living areas such as condos, new shopping malls and department stores embarking on Ecuador, Construction is a very present part of the Labor Market. The Labor Market also consist of Agriculture 5.9%, Industry 35.6% and other services 58.5%. With this type of diversity the Unemployment Rate remains at a constant low
TABITHA MCCOY
AMERICAN INTERCONTINENTAL UNIVERSITY
ABSTRACT
The author will select a South American Country. The South American Country selected is Ecuador. The author will discuss the Economic concerns of Unemployment and Labor. The author will also define Unemployment. The author will briefly discuss the Education as it relates to one of the Economic Concerns of Ecuador.
The South American Country selected to discuss is Ecuador. This country has a population of 15,234,429 people as of last known data received in July 2013. Ecuador capital city is Quito. The people of the South American Country recently in 2001 adopted the use of the United State Dollar as is currency. Ecuador has several Economic Concerns, however one concerns that attracted my encounter with this South …show more content…
The Unemployment Rate consist of the percentage of the total number of unemployed people divided by the total number of people in the labor force (Editorial, Board). As of 2012 Ecuador’s Unemployment Rate is 4.9%. Ecuador’s Economy is currently at a growing pace. This allowed the government spending to increase by creating infrastructure projects. This caused Ecuador’s GDP to increase.
The current GDP growth rate is 5% in Ecuador. One of the reason the Unemployment rate is 4.9% is because of the diversity of the labor market. The Labor Market consist of a competitive and different types of employment. With the Economy expanding and new living areas such as condos, new shopping malls and department stores embarking on Ecuador, Construction is a very present part of the Labor Market. The Labor Market also consist of Agriculture 5.9%, Industry 35.6% and other services 58.5%. With this type of diversity the Unemployment Rate remains at a constant low