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Dec 12, 2023 · The Job Market In Panama. Panama is one of the most economically stable countries in Latin America. Its use of the U.S. dollar as the national currency has prevented the country from suffering the economic crises experienced by its neighbors. Panama is a high-benefit and low-risk destination for foreign professionals thanks to its
Yes, you can work in Panama as a foreigner, but to do so legally, you must first secure a work permit. Panama is known for its thriving economy, and with its strategic location, it offers various job opportunities for both locals and expats. However, understanding the job market, legal requirements, and best practices for job searching will ...
The Panamanian job market is diverse, with a focus on industries such as banking and finance, logistics, tourism, and construction. According to the National Institute of Statistics and Census of Panama, the unemployment rate was 8.8% in 2020, which is slightly above the regional average. The average monthly salary for a full-time employee in ...
Finding Expat Employment in Panama in 2020. If you really want to secure a structured position in Panama there are several good websites that offer information on open jobs. One of the best is OpcinEmpleo. They have postings from companies such as P&G, GlaxoSmithKline, First Quantum and Chiquita Brands.
For example, professionals such as doctors and lawyers tend to earn higher salaries, while lower-skilled workers may earn less. As of 2021, the minimum wage for non-agricultural workers in Panama is $900 per month for an eight-hour workday. For agricultural workers, the minimum wage is $750 per month for a six-day workweek.
Foreign nationals interested in working in Panama must first obtain a visa and residence permit, which can be an involved process requiring various documents like an employment letter, Power of Attorney agreement and proof of address proofs. A lawyer specializing in immigration can assist in this preparation process.
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Annual leave is set at 30 days after 11 continuous months of employment. The Panama minimum wage rate ranges from 1.22 to 2.36 Panamanian balboas per hour, depending on the region and sector (the balboa is pegged to the US dollar). An average monthly salary in Panama City is in the region of US$1200 and US$500 in more rural areas.
