After 17 meetings and in the absence of an agreement between the economy and labor unions, the Ministry of Labor and Labor Development (Mitradel) announced a new minimum wage that will apply from 2024.
The head of labor confirmed an increase of 4.5 percent for all small entrepreneurs, 6.0 percent for large companies and 7 percent for companies in the banana sector, for the two regions established by the decree.
This percentage increase will be applied under equal conditions to the two regions established by the decree amending the minimum wage rate.
Thus, the minimum wage as a simple average is $636.80, with the highest minimum wage being $1,015.03 for aviation mechanics and the lowest minimum wage being $341.12 for small businesses in agriculture, livestock, forestry, aquaculture, and fishing.
Information under development….
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Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
