Rise in Employment Contracts in Panama

Between January and July 2013 there were 159,866 new labor contracts, marking a growth of 14%.

Wednesday, September 18, 2013

The data was provided by the Ministry of Labor and Workforce Development.

"37% of the contracts were permenant, 29% temporary and the rest were for projects that had a fixed completion date," reported Prensa.com. The sectors where there were the greatest number of contracts included construction, hotels, restaurants and wholesale and retail trade.

HR consultants were positive about the number of permanent contracts as it is a sign that companies have long-term projects which boosts the economy of the country.

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Increase in Employment Contracts in Panama

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

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.