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Panama with low rates of employment opportunities

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Panama City, Aug 5 ( Prensa Latina) The registration of fewer contracts marks a complicated situation in Panama's labor market, according to data from the General Comptroller's Office of the Republic.

Based on the most recent report, in the first half of this year, 139,051 new contracts were reported, representing a decrease of 0,6% to the same period last year and 31% below those of 2019.

The Comptroller’s Office announced this August that it would conduct a household survey for new statistics, given indexes that point to unemployment above 7,0% and an informality rate above 50%.

On the subject, labor consultant René Quevedo told the press that figures for the first half of the year indicate that the economy is generating 10,510 fewer vacancies per month compared to 2019, with young people being the main ones affected.

“There is a contraction of the circulating currency and less consumption, so the economy’s capacity to generate formal jobs will be determined by the speed with which more liquidity can be injected,” he commented.

Temistocles Rosas , president of the National Council of Private Enterprise, said that the reduction of private investment, the electoral stage, and the fiscal crisis, faced by the government, have created an unfavorable environment for new jobs creation, he said.

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