Unemployment in Panama
Panama - UnemploymentThe economy appears to have regained some steam in the third quarter, after wage strikes in the construction sector in April-May dragged down GDP growth to an eight-and-a-half year low in Q2. Although the monthly economic activity indicator (IMAE, Índice Mensual de Actividad Económica) was still weak in July, it improved markedly in August. Furthermore, freight data for the Panama Canal shows strong year-on-year growth in July and August, though September logged a decline due to a high-base effect. Meanwhile, on 31 October the parliament approved an expansionary budget for 2019, including USD 9 billion dedicated to investment projects.
Panama - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Panama Unemployment Chart
Source: General Controllership of the Republic of Panama.
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October 17, 2018
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) accelerated from 2.0% in July to 3.4% in August, its best showing since last April. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to August came on the back of growth in the sectors of fishing; transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; public administration; commerce; and financial intermediation.
October 15, 2018
Consumer prices were flat month-on-month in September, following the 0.1% month-on-month increase logged in August.
September 17, 2018
According to data released by the National Comptroller’s Office (Contraloría General de la República), the economy continued to lose steam in the second quarter of 2018.
July 13, 2018
Consumer prices rose 0.2% month-on-month in June, coming in above the flat reading recorded in May.
June 19, 2018
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) showed an acceleration in year-on-year growth, from March’s almost three-year low of 2.9% to 4.6% in April.