Economy Country October 22, 2024

Panama's Labor Market Report Highlights Salary Trends

The September Labor Market Report shows an increase in desired salaries among Panamanians, reaching USD 1,024, with women earning USD 1,006 and men USD 1,050.


In September, the company Enposiciones presented a report revealing that the average salary aspiration of Panamanians was USD 1,024, reflecting an increase of 0.55% compared to the previous month. On the other hand, there was a 2.79% increase in the annual cumulative. In the breakdown by gender, women requested an average salary of USD 1,006, while men indicated USD 1,050, creating a gap of 4.31% in favor of the latter.

Jeff Morales, Marketing Manager at Konzerta, commented: "The Labor Market Report for September shows that women's salary aspirations have increased slightly, while men's have decreased."

Regarding different labor segments, positions of chief and supervisor recorded a salary aspiration of USD 1,279, with an increase of 0.85% compared to the previous month. On the other hand, in the junior sector, positions related to Training stood out for requesting an average salary of USD 900.

Additionally, in job applications, it was observed that women had a higher participation (50.75%) compared to men (49.25%). In junior, senior, and semi-senior positions, female applications exceeded male ones; however, in chief and supervisor roles, the proportion of men who applied was higher.

In terms of labor sectors, Technology and Systems continues to be the area with the highest average salaries, with USD 1,281 for senior and semi-senior positions, while the Others sector remained the lowest paying with USD 958. In junior positions, Technology and Systems also led in terms of average required salary.

Furthermore, it was highlighted that the Technology and Systems sector showed the highest annual cumulative increase, with 0.92%. As for the salary aspirations of young workers aged 18 to 24, the figure dropped to USD 739, reflecting a decrease compared to previous months.

In summary, the Panamanian labor market presents variations in salary aspirations according to gender, labor segment, and sector, showing a diverse and dynamic landscape regarding workers' expectations in the country.