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Panama rising unemployment rate up to 5.8%

According to official indicators, the unemployment rate in the isthmus rose to 5.8% in 2016 with an increase in labor informality
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PANAMA CITY .- Unemployment rates in Panama continue to increase each year. On the eve of May Day, held on Monday, it was recorded more than 100,000 Panamanians unemployed in the country.

According to official indicators, the unemployment rate in the isthmus rose to 5.8% in 2016 with an increase in labor informality.

Since 2012 the unemployment rate has been estimated at 67,700 people. The rate has increased to 70,970 in 2013, to 85,445 in 2014 and to 91,571 in 2015. In relative terms, this meant that the unemployment rate has been managed by 4.2% in 2012, 4.3% in 2013, 5.1% in 2014, 5.3% in 2015 and 5.8% in 2016.

For the government and the ministry of labor to present an official rate, it is estimated that unemployment in Panama can maintain a rising curve.

However, contrary to what has been shown in official data, the Ministry of Economy and Finance concludes that Panama is experiencing healthy economic growth with low inflation rates.

The economic and social projections of Juan Carlos Varela’s Government are presented as positive despite what experts and citizens claim.

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