The Ecuadorian Ministry of Labor has set an ambitious goal to increase the rate of formal employment to 40% by the year 2026. Starting the year with a formal employment rate of 37%, the ministry, led by Harold Burbano, believes that with the implementation of specific strategies, this target is achievable. The plan outlines the need to create an additional 320,000 jobs in the formal sector, which would translate into a significant increase in employment opportunities for the Ecuadorian population.