Unemployment in Panama
Panama - UnemploymentThe economy modestly accelerated in the third quarter from the second quarter’s dismal performance, halting three consecutive quarterly slowdowns. The print was largely led by the service sector—particularly dynamic trade flows buttressing activity in the Panama Canal and the Colón Free Trade Zone—as well as by a recovery of construction activity after a strike-driven slump in Q2. Moreover, FDI inflows increased nearly a tenth year-on-year in January-September. Nevertheless, growth remained feeble in the quarter compared to past years. Turning to the fourth quarter, construction growth likely continued to pick up as the government boosted its infrastructure development efforts. In less positive news, early data suggests growth momentum might have remained modest in the last quarter, as signaled by a subdued economic activity indicator in October. On 12 December, the IMF completed its Article IV consultation with Panama, praising the government’s commitment to prudent fiscal management and encouraging further improvements on tax transparency.
Panama - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Panama Unemployment Chart
Source: General Controllership of the Republic of Panama.
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April 9, 2019
The upcoming Panamanian general elections, scheduled to be held on 5 May, will likely see Laurentino Cortizo of the center-left opposition party PRD (Partido Revolucionario Democrático) win the race for the country’s executive office, ousting the ruling conservative Panameñista Party (PP) of incumbent President Juan Carlos Varela from power.
March 20, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) fell from 3.8% in December to 3.6% in January. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity in January was largely driven by growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; and hotels and restaurants.
March 15, 2019
Consumer prices rose 0.1% month-on-month in February, contrasting the 0.3% fall in January.
Panama: Growth accelerates in Q4 despite weaker trade flows on pick-up in construction, finance and mining
March 4, 2019
According to data released by the National Comptroller’s Office, the economy continued to regain steam in the last quarter of 2018 after rebounding from Q2’s decade-low performance in Q3.
February 15, 2019
Consumer prices fell 0.3% month-on-month in January, up from December’s 0.4% decline.