According to the report of the National Institute of Statistics and Census (INEC), the statistic represents an increase of 1,2% in relation to the same stage of 2023.

However, INEC points out that the current results are far from what was achieved before the pandemic, when for example during the first seven months of 2019, the Ministry of Labor and Labor Development (Mitradel) processed 236,260 new contracts.

For labor consultant René Quevedo, the Government’s capacity to stimulate the generation of employment in the economy will depend on the speed with which it can inject liquidity.

In this sense, he added that the payment of US$ 877 million to State suppliers is a step in the right direction, however, it must be approved by the National Assembly (parliament), since it is not included in the 2024 Budget.

In declarations to the newspaper La Estrella de Panamá, Quevedo indicated that uncertainty remains in the climate for private investment, after the negative evaluation given by the risk rating agency Fitch Ratings last March 28 and the increase in interest rates.

“Without investment there will be no hiring, so it is imperative to convey confidence that investing in Panama is good business,” he said.

The total unemployment rate in Panama is 7,4%, according to INEC (August 2023). By that date, the unemployed population stood at 155,625 people and in April 2022 it was 203,253 people.

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