Increase in Employment Contracts in Panama

In the first seven months of the year, 235, 529 employment contracts were made, 17, 406 more than in the same period in 2011.

Tuesday, November 20, 2012

A press release from the Ministry of Economy and Finance of Panama reads:

The Ministry of Labor and Workforce Development, recorded between January and July 2012, about 235,529 employment contracts, contracts 17,406 more than in the first seven months of 2011, as announced by the department of economic research at the Ministry of Economy and Finance, in a report.

There is improvement in employment stability, indicates the report by the MEF, as companies signed more contracts for indefinite periods, about 3,600 and less for a definite periods, 322, although employment contracts for definite periods is still the most frequent format used in companies (37.7%), together with those for predetermined work (37.6%).

¿Busca soluciones de inteligencia comercial para su empresa?

More on this topic

Labor Market: How Many Years Will the Recovery Take?

December 2020

Due to the economic crisis it is estimated that by the end of 2020 Panama will have 400 thousand new unemployed and the unemployment rate will climb to 25%, assuming that the country generates between 45 thousand to 50 thousand jobs annually, it will take about eight years for the recovery to take place.

The outbreak of covid-19 caused a serious economic crisis in the country, since due to the spread of the disease the authorities have decreed severe home quarantines, mobility restrictions and have limited some productive activities.

Growing Demand for Labor in Panama

October 2013

Between January and August 2013 there were 183,562 employment contracts, of which 69,830 were for an indefinite period and 59,763 for fixed work.

The Economic activities which report the most amount of contracts in that period were hotels and restaurants, manufacturing, service, finance and insurance, transport, storage and mail, information, communication, and others, according to the Ministry of Labour and Development (Mitradel) .

Job Security: Chronicle of a Death Foretold

July 2012

An increase in informal employment and underemployment indicates a need to adapt the rules governing hiring people to the new forms of production.


An article in reports that "More Costa Ricans are now working in the informal sector or are underemployed, visibly and invisibly.

Labor Contracts in Panama Increase

February 2009

As reported by the Department of Labor, in January of 2009, 20,573 new contracts were registered, 21.7% more than the same period of year 2008.

Orlando Carpintero writes in "The growth was seen in the three types of contracts for which records are kept: For specific projects, there were 2,540 new contracts more than in January of 2008; for defined time frame contracts, 269 more; and, in the open contracts segment, 859 more."