Ecuador and Economic Concerns Essay

744 Words Nov 25th, 2013 3 Pages

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.
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Uruguay’s Unemployment rate as of 2012 is 6.1%. Venezuela’s Unemployment Rate is 7.8% as of 2012. These South American Countries have a very low Unemployment Rate due to the diverse Labor Market. One reason why the citizens of Ecuador have such a hard time finding employment is because of Immigrants. People who come to Ecuador to work for much lower wages causes the citizens to miss opportunities of employment. This is a continuous concern in Ecuador. Wages in Ecuador are very low. The average compensated wages is $292 a month. However with bonuses and other incentives a worker can receive $300 or more. This is known as a Dignified Wage. With the cost of living not at all high compared to other countries a dignified wage could reach up to $572.35.
One Economic Concerns that really is twofold is the Unemployment Rate and the Education System of Ecuador. With the employment age beginning at 15, the average person growing up in Ecuador only completes school up to this age. The public education system is free and if your child is between the age of 6 and 15. This child is required to attend school. This seem unfair to the children of Ecuador. How can they improve and better their Economy if they employ children and will not allow the children to further their education pass the age of 15.
A week public education system will produce uneducated citizens which tend to lead to more children not being able to enter

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