Job Market Panama

While the gross national product had amounted to 9% in the year 2010, it had already increased to 10,5% in the year 2010 – indicating

the economic prosperity of Panama. This development has of course influence on the job market and the unemployment rate, which substantially reduced from 8,2% to actually 4,5%. A lack of employees is characteristic of various sectors and branches. All over Panama a minimum wage of 400 US-Dollar must be paid. As employees are urgently required particularly in the construction sector and the large-scale projects of extending work at the Panama Canal, this work will probably be delayed by six months to mid 2015. Further main projects are: extension of ports, extension/new building of roads as well as the extension of the airport in Panama City. Moreover new airports have to be constructed at various other locations in the interior of Panama. The forthcoming projects – extension of metro as well as a new metro bus-project – require employees and workers. Various major investment- and support programs initiated by the Panamanian government are presently realised. In order to settle questions about migration and travel permit within short and in a non-bureaucratic way, a separate marketing-facility was founded. The prospects of the Panamanian job market are actually really promising.