Economy, jobs and prices in Veraguas, Panama: official figures
The unemployment rate in Veraguas was 7.1% of the labour force in October 2024, 2.4 pp lower than the national figure (9.5%) and 5th highest of 13 provinces and comarcas.
Is unemployment rising in Veraguas?
In Veraguas the unemployment rate rose from 4.0% in August 2023 to 7.1% in October 2024 (+3.1 points); nationally it went from 7.4% to 9.5%.
Source: Instituto Nacional de Estadistica y Censo (INEC), Contraloria General de la Republica de Panama · saved copyHow many people are in the labour force in Veraguas?
129,923 of the 217,463 people aged 15 and over in Veraguas were in the labour force in October 2024, a participation rate of 59.7% against 63.3% nationally (2nd lowest of 13 provinces and comarcas).
Source: Instituto Nacional de Estadistica y Censo (INEC), Contraloria General de la Republica de Panama · saved copyHow many people are employed in Veraguas?
In October 2024 120,683 people were employed in Veraguas, 55.5% of everyone aged 15 and over, compared with 57.3% nationally (3rd lowest of 13 provinces and comarcas).
Source: Instituto Nacional de Estadistica y Censo (INEC), Contraloria General de la Republica de Panama · saved copyIs unemployment higher for women than men in Veraguas?
In October 2024 unemployment in Veraguas was 5.3% among men and 10.1% among women, an overall rate of 7.1%.
Source: Instituto Nacional de Estadistica y Censo (INEC), Contraloria General de la Republica de Panama · saved copyWhat is the open unemployment rate in Veraguas?
Open unemployment (people who searched for work and were available) was 6.0% of the labour force in Veraguas in October 2024, against 7.8% nationally; the rest of the 7.1% unemployment rate is hidden unemployment, such as people who stopped looking.
Source: Instituto Nacional de Estadistica y Censo (INEC), Contraloria General de la Republica de Panama · saved copyHow Veraguas compares with other provinces
Unemployment rate (% of labour force) (October 2024)
Veraguas ranks 4 of 12, highest first.
| Rank | Region | Unemployment rate (% of labour force) |
|---|---|---|
| 1 | Panama | 12.4% |
| 2 | Colon | 10.3% |
| 3 | Chiriqui | 9.0% |
| 4 | Veraguas | 7.1% |
| 5 | Bocas Del Toro | 6.7% |
| 6 | Cocle | 5.8% |
| 7 | Darien | 4.8% |
Labour force participation rate (age 15+) (October 2024)
Veraguas ranks 11 of 12, highest first.
| Rank | Region | Labour force participation rate (age 15+) |
|---|---|---|
| 6 | Panama | 63.6% |
| 7 | Chiriqui | 61.6% |
| 8 | Los Santos | 60.9% |
| 9 | Colon | 60.0% |
| 10 | Kuna Yala | 59.9% |
| 11 | Veraguas | 59.7% |
| 12 | Herrera | 58.5% |
Employed people as % of population aged 15+ (October 2024)
Veraguas ranks 11 of 12, highest first.
| Rank | Region | Employed people as % of population aged 15+ |
|---|---|---|
| 6 | Los Santos | 59.3% |
| 7 | Kuna Yala | 58.4% |
| 8 | Herrera | 56.6% |
| 9 | Chiriqui | 56.1% |
| 10 | Panama | 55.7% |
| 11 | Veraguas | 55.5% |
| 12 | Colon | 53.8% |
Invisible underemployment (% of employed) (October 2024)
Veraguas ranks 7 of 12, highest first.
| Rank | Region | Invisible underemployment (% of employed) |
|---|---|---|
| 4 | Colon | 15.0% |
| 5 | Herrera | 13.7% |
| 6 | Ngabe Bugle | 12.8% |
| 7 | Veraguas | 12.8% |
| 8 | Chiriqui | 12.2% |
| 9 | Cocle | 12.1% |
| 10 | Bocas Del Toro | 12.0% |
More on Veraguas: overview · health · education and schools · poverty and living standards · Panama
Sources
- Instituto Nacional de Estadistica y Censo (INEC), Contraloria General de la Republica de Panama: Encuesta de Mercado Laboral, agosto 2023 y octubre 2024, Cuadro 2: poblacion de 15 y mas anos por condicion de actividad economica, provincia y comarca, read 23 October 2026 · saved copy (SHA-256 49e795f2161c…)
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