Monday, December 6

Unemployment rate in Panama was reduced to 14.5%, at the end of June 2021

The unemployment rate went from 18.5% in September 2020 to 14.5% in June of this year, revealed the Labor Market Survey (EML) developed by the National Institute of Statistics and Census (Inec) from Comptroller General of the Republic, This reflects the recovery of jobs resulting from the reactivation of the various economic activities in the country.

The figures indicate that the unemployment rate fell for both sexes; for men it was 1.6 percentage points and for women it was 6.7, so that male unemployment stood at 12.0% and female unemployment at 18.0%.

Regarding unemployment by age groups, it mainly affects young people, presenting for 2021 an unemployment rate of 28.9%, in the age group, 15 and 29 years old. By 2020 this rate was 34.5%, doubling the national unemployment rate in both years.

Meanwhile, the number of people who register a condition of informality, who lack the minimum levels of labor protection such as social security and the contractual relationship, represents 49.9% of the employed persons in the country.

Regarding the employed population, at the national level, this was 1,655,122 people, increasing by 23,431 employed persons compared to September 2020. This increase was observed in both sexes (21,313 men and 2,118 women).

It was recorded that there were 977,274 employed and 677,848 employed. Of the total number of people who declared to be employed, 59.0% men and 41.0% women, which reflects, regardless of age, a lower participation of employed women.