Panama: jobs and pay

What is the unemployment rate in Panama?

Panama's unemployment rate was 8.5% in August 2026, down from 10.4% in September 2025, according to INEC's labour market survey report for August 2026. 189,188 people were unemployed out of an economically active population of 2,235,167. The rate was 10.4% for women and 7.0% for men.

INEC's total includes "hidden" unemployment, people available for work who have stopped looking or are waiting to hear back. Open unemployment, people actively looking, was 6.7%. INEC runs the survey twice a year. The International Labour Organization's modelled estimate on World Bank Open Data, which uses a single method for all countries, was 8.36% for 2025.

Official sources: labour market survey report for August 2026 · World Bank Open Data

How many people are covered by social security in Panama?

2,818,384 people were covered by Panama's Social Security Fund (CSS) in 2025, 0.4% more than in 2024, according to INEC preliminary figures. Of these, 53.5% were contributing members, including pensioners, and 46.5% were dependants: 830,003 children, 264,478 spouses, 165,359 partners and 51,605 parents.

Contributors numbered 1,506,939: 1,154,606 active workers and 352,333 pensioners. The figures count protected people by type of insured person and by province and indigenous comarca; Chiriquí recorded 338,159 protected people, up 1.3%.

Official sources: INEC: Population protected by the CSS, 2025 (PDF)

How many people work informally in Panama?

45.8% of Panama's non-agricultural workers were in informal jobs in August 2026, down from 47.1% in September 2025, according to INEC's labour market survey report for August 2026. That was 784,244 of 1,714,087 non-farm workers.

Informal jobs are those without social security registration or a written contract, whether in informal businesses, formal companies or households. 72.5% of informal jobs were in the informal sector, 17.5% in formal companies and 10.0% in households. Informal work in formal companies was the only group to grow, from 114,069 to 136,951.

Official sources: labour market survey report for August 2026

What is youth unemployment in Panama?

18.3% of people aged 20 to 29 in Panama's labour force were unemployed in August 2026, according to INEC's labour market survey report for August 2026. That was 84,470 people. The rate was 23.1% for young women and 14.8% for young men.

INEC reports unemployment for the 20 to 29 age group in its commentary. The International Labour Organization's modelled rate for ages 15 to 24, on World Bank Open Data, was 19.77% for 2025.

Official sources: labour market survey report for August 2026 · World Bank Open Data

How many people in Panama are underemployed?

413,155 workers in Panama were in "invisible" underemployment in August 2026, 20.2% of everyone in work, up from 213,370 (10.8%) in September 2025, according to INEC's labour market survey report for August 2026. Another 92,318 (4.5%) were in visible underemployment.

Visible underemployment means working fewer hours than wanted; invisible underemployment means full-time work for less than the minimum wage. Full-time workers in adequate employment fell from 1,090,616 to 945,631, or from 55.4% to 46.2% of the employed.

Official sources: labour market survey report for August 2026

What is Panama's minimum wage?

The ILO puts the statutory minimum wage in Panama at 482 PAB a month (about $482) in 2024. It is the top of the series, which starts in 2012.

What is the average wage in Panama?

$929 a month: that is average monthly earnings of employees in Panama for 2025, according to the ILO. Since 2012 it has ranged from $639 a month (2012) to $929 a month (2021). Across Latin America & Caribbean the middle value was $523 a month, and Panama placed 2nd highest of 14. Worldwide: 35th of 57.

How high is unemployment in Panama?

The latest figure from the ILO, for 2025, is 8.4%. Since 2005 it has ranged from 3.7% (2013) to 14.7% (2020). Across Latin America & Caribbean the middle value was 6.0%, and Panama placed 8th highest of 29. Of 174 countries with 2025 data, 44th highest.

How many young people in Panama are unemployed?

According to the ILO, unemployment among 15 to 24 year olds in Panama was 19.8% in 2025. The peak was 33.0% in 2020 and the low 9.6% in 2012. It is 9th highest of 29 in Latin America & Caribbean, where the median is 14.0%. Of 174 countries with 2025 data, 46th highest.

What share of people in Panama are in the labour force?

The ILO puts the labour force participation rate in Panama at 66.3% in 2025. Its high point since 2005 was 2019, at 68.5%; its low point was 2021, at 62.8%. Across Latin America & Caribbean the middle value was 63.4%, and Panama placed 8th highest of 29. Worldwide: 49th of 174.

What share of women in Panama are in the labour force?

In 2025, the labour force participation rate for women in Panama was 54.9%, according to the ILO. Since 2005 it has ranged from 46.2% (2011) to 56.3% (2019). It is 11th highest of 29 in Latin America & Caribbean, where the median is 52.5%. World rank, highest first: 80th of 174.

What share of adults in Panama have a job?

The latest figure from the ILO, for 2025, is 60.8%. Its high point since 2005 was 2019, at 64.2%; its low point was 2021, at 56.4%. Latin America & Caribbean median: 59.4%; Panama is 10th highest of 29. World rank, highest first: 65th of 174.

How common is self-employment in Panama?

37.9%: that is the share of workers who are own-account or contributing family workers in Panama for 2025, according to the ILO. Since 2005 it has ranged from 27.3% (2008) to 42.1% (2022). It is 8th highest of 29 in Latin America & Caribbean, where the median is 29.8%. Worldwide: 70th of 174.

What share of jobs in Panama are salaried?

The latest figure from the ILO, for 2025, is 59.4%. Its high point since 2005 was 2008, at 69.4%; its low point was 2022, at 55.7%. It is 20th highest of 29 in Latin America & Caribbean, where the median is 64.8%. Of 174 countries with 2025 data, 100th highest.