In February 2009, economy activity slowed to growth rate of 2.59% with respect to the same month in 2008.
The Panamanian economy showed the most growth in Latin America over the past two years, but experts predict that growth will drop to around 3% this year.
Prensalibre.com published: "Reports by the State showed that construction starts fell in April and this is increasing fears of a rise in unemployment, which for now remains at levels close to its historical low."
Due to pessimism and in anticipation of eventual layoffs, the Guatemalan managerial ranks increased their search for alternative jobs.
According to the Executive Director of AMCHAM (Guatemalan-American Chamber of Commerce), Carolina Castellanos, the base of applicants for management positions that it maintains to support its associates grew in the sector of executives in search of jobs from 2% in December 2008 to 20% in March 2009.
Caribbean-Central American Action (CCAA) is a private, independent organization that promotes private sector-led economic development in the Caribbean Basin and throughout the Hemisphere.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador, Costa Rica and Caribbean Community
Phone: (202) 331-9467