Better Jobs Index - Ecuador
Inter-American Development Bank
The Better Jobs Index measures jobs in countries based on two dimensions: quantity and quality. The quantity dimension is composed of two indicators: the labor participation rate and the employment rate. Quality, on the other hand, consists of the formality rate and living wage sufficient to overcome poverty. Thus, the index is the weighted average of these four indicators, and their scores range from 0 to 100. For a country to get 100 points, all people who participate in the labor force must be employed with a formal job that provides them with a living wage.