Panama’s economy in 2022 created 37% fewer formal jobs and more than tripled the informal jobs created in the year before the pandemic, according to a labor consultant, Rene Quevedo.
“We are generating 37% fewer formal jobs and more than three times more informal ones than in the year before the pandemic. On the other hand, the jobs that are being created are in contrast to the “historical” ones and show a clear relationship between education and job quality”He said.
Quevedo commented that there are still about 170,000 users digital voucherbut the economy is not creating new sustainable jobs.
“This fact, together with educational deficiencies in the population of productive age, makes it difficult for them to transition from social welfare to productive inclusion”he asserted.
The consultant said that the post-pandemic scenario in Panama It is characterized by the loss of attractiveness for private investment in the sectors that create the majority of jobs.
In addition, it also indicates that it is generalized due to the significant gap between the supply and demand of work skills, which causes, paradoxically and at the same time, a high level of unemployment among Panamanians with a low level of education and a serious shortage of qualified personnel.
Economists point out that the simple fact that the economy has basically been reactivated, but the fact that it has an unemployment level of almost 10%, well above the pre-pandemic period, shows that there is growth without employment.
‘
170
thousand users currently have digital value issued by the national government.
37%
fewer formal jobs are created in the Panamanian economy.
The consultant pointed out that the six sectors that generate two-thirds of private jobs in National territory They are no longer attractive for private investment and create only informal jobs, according to the labor advisor.
These sectors are: trade, construction, logistics, industry, hotels and restaurants and other service activities.
It should be noted that between 2012 and 2022, the increase in informal employment in relation to the total increase in these sectors was as follows: construction 406%, trade 123%, logistics 115%, industry 99%, hotels and restaurants 99% and other services 107%.
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.
