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Informality governs labor market in Panama

Panamá-mercado-laboral

Informality governs labor market in Panama

Panama City, Jul 2 (Prensa Latina) Informality governs the labor market in Panama and accounts for 48.6 percent of the non-agricultural employed population, according to a study published today by newspaper La Prensa.
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According to the daily, in October 2021 there were 677,875 informal jobs, while by April of this year the figure rose to 737,922.

The majority of informal employees, he specifies, is found in the tertiary sector (services), with 79.1 percent; and 20.9 in the secondary (industrial) sector.

The majority of informal workers do not contribute to the Social Security Fund, which shows part of the precariousness of their condition, by not offering the contributions in the worker-employer quota that they need for the moment of their retirement, adds the investigation.

In this regard, the economist Felipe Chapman pointed out that informality is one of the first things that the Government must solve, if it aspires to build a more prosperous and developed country.

The newspaper also quotes International Labor Organization Director-General Guy Ryder as saying that a true recovery from the Covid-19 pandemic must be based on the principles of decent work, including health and safety, equality, protection social and social dialogue.

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