inflation
Panama manages inflation by closely tying its monetary system to this larger country’s economy.
USA
In rural areas of Panama, this sector provides significant employment but often faces challenges like seasonal unemployment.
Agriculture
The economic sector tied to Panama’s tourism industry faced a dramatic drop in employment during this global event.
COVID-19
What is Unemployment Rate?
This term refers to the percentage of the labor force that is without work but actively seeking employment.
This coastal city, Panama’s second largest, has struggled with unemployment due to limited industrial growth
Colón
Panamanian government program aimed to support small businesses and reduce unemployment by providing loans and grants.
Economic Recovery Plan / Fondo de Recuperación Económica
A lack of economic opportunities in rural areas often drives young Panamanians to migrate to this city.
Panama City
Panama’s nominal GDP in recent years has hovered around this number.
What is $70 billion?
Panama uses this currency
US Dollar
A common measure of inflation, this index tracks changes in the prices of goods and services bought by consumers.
CPI
Inflation in Panama remains low because it does not print this, relying on a fixed money supply instead.
currency
overnment initiatives to reduce unemployment often focus on developing these regions, where job opportunities are scarce.
Rural Areas
What is Panama's main industry?
shipping and logistics, using the panama canal
Panama’s GDP benefits from global tourism, particularly from travelers visiting for this eco-friendly activity.
rainforest exploration or ecotourism?
What is technological unemployment?
A rise in automation and digitalization.
Inflation may increase during economic booms when demand exceeds supply, often seen in this growing sector in Panama.
Construction
To lower unemployment, Panama has partnered with international organizations like this UN agency focused on labor.
International Labour Organization (ILO)
This large-scale expansion project, completed in 2016, significantly boosted Panama’s GDP by increasing the capacity of its key waterway.
Panama Canal expansion
What is the gig economy?
informal employment, which is not regulated by labor laws.
What is the International Labour Organization (ILO)
organization that tracks labor market statistics globally and provides reports on worldwide employment trends.
Unlike many countries, Panama does not have this type of institution to adjust interest rates to control inflation.
A Central Bank
During economic recessions, unemployment tends to rise, particularly in this construction-related job type.
Unskilled Labor Jobs
What is the U.S.-Panama Trade Promotion Agreement?
The United States is one of Panama’s top trading partners, contributing to its GDP through this bilateral agreement.
What is NEET rate?
The percentage of young people in Panama who are not in education, employment, or training (NEET) is often referred to by this term.
High unemployment rates are often linked to the lack of this type of education or training, essential for a skilled workforce
Vocational Training