Panama's growth spurs reduction in jobless
Panama's economic growth is reducing unemployment, according to the latest official figures.
Friday, May 23, 2008
Total unemployment has dropped from 7.3 percent to 6.3 percent, while open unemployment has dropped from 5.3 percent to 4.7 percent, according to preliminary figures from the Statistics Department.
The unemployment rate in Panama dropped to 4%, the lowest since numeral statistics have been kept, for over 40 years.
4.06% of the economically active population is unemployed, according to the National Statistics Institute (INE).
Under the new calculation, the working population remains unchanged, although the participation rate dropped 2.2% and the occupancy rate 1.03%.
At the closing of the first quarter, the open unemployment rate was 4.9%, according to data from the Office of the Comptroller General of the Republic.
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