Panama needs to create 30,000 jobs a year to maintain good unemployment rate

Economy

The country needs to generate 30 thousand jobs a year to maintain a healthy unemployment rate

INTERVIEW

The vice-minister of Economy, Gustavo Valderrama, focuses the fall of unemployment and retail consumption in the lack of specialized labor and a projection of the business sector based on the growth of the last five years. So he spoke to the Polygraph.

What do they do to boost the retail consumer economy?

That moves in cycles. She offers 3%, it is not the cycle that was kept at 5%. What has driven downward is the entry of fewer tourists to Panama. The expense of tourism has not behaved as in previous years but that also has its explanation of why it has not had the result we have expected.

What went wrong in the tourism sector?

The figures showed, since the investments were developed in new hotel rooms, that the growth of tourism was well below the rate of growth of hotel supply. It was known that when this great offer was ready, it would not have the arrival of tourists to fill the rooms. A State project had to be done to promote the country and manage to alleviate this element. In addition, it has happened that the oil fell and the Latin American producing countries had a devaluation of their currencies that made coming to Panama very expensive.

READ MORE;http://elsiglo.com.pa/panama/falta-curriculum-causa-aumento-desempleo/24060854

No Comments

Leave a Reply

Your email address will not be published.

Economy
As was case with “Moody’s” – “Standard and Poors” is downgrading Panama.

https://www.laestrella.com.pa/economia/231108/s-p-mantiene-calificacion-riesgo-panama-bbb-ajusta-perspectiva-negativa The risk rating agency Standard & Poor’s Financial Services LLC (S&P) maintained the investment grade risk rating for Panama at “BBB”, but adjusted the outlook from “stable” to “negative”, as a result of the recent protests and closures. of streets against Law 406, the Ministry of Economy and Finance …

Economy
Panama’s issues with canal drought, will impact negatively on MOODY’s credit rating.

A worsening of the phenomenon would affect exports of raw materials and goods from the US East Coast and the Gulf of Mexico, such as grain, oil and gas. Moody’s Investors Service warned that the drought crisis presented by the Panama Canal will be aggravated by the return of the …

Economy
Great exposure for Panama in FORBES.

https://www.forbes.com/sites/petertaylor/2023/09/11/foreign-buyers-are-finally-cooling-on-americas-overheated-housing-market-thats-great-news-for-panam/?sh=148753d7362e The American residential real estate market rarely rocks headlines—despite economically accounting for the largest single share of U.S. gross domestic product (+/- 17%). The Great Recession pushed real estate front and center in the media for a while as the banks collapsed back in 2008. Covid subsequently upended where …