Panama: Job Hiring Up 5%
Posted on 2017-01-27
Between January and December hiring by the private sector went up by 5% compared to the previous year, driven by fixed term contracts, which grew by almost 9%.
Figures from the Ministry of Labor and Workforce Development (Mitradel) show that in 2016 290,367 new contracts were signed, of which 114,553 were for fixed term contracts, 81,265 were permanent contracts and the rest were for specific works.
The month in which where there were fewest additions to the payroll was November with 19 thousand 480 contracts, while in April the largest number of labor agreements were signed; in total there were 28 thousand 238 contracts. Per sector, the construction sector is still signing the largest number of contracts. In 2016 almost 40% of contracts signed were in this sector.
In construction alone, 180,000 contracts were signed, followed by the trade sector with 65,558 contracts signed.