Government attributes low unemployment numbers to residential tourism

This is a machine translation from Spanish

Panamá unemployment lowest in 20 years
Marianela Ramsbott Palaces  marianelap@prensa.com

The present rate of unemployment, equivalent to the 9,6% of the working population, is the lowest it has been in Panama for the last 20 years. "In 1986 we closed in on 10.6% and since then always we were over 10%. But now, thanks to three years consecutive of economic growth, we managed to break that barrier and we have  even lowered to 9,6% ", commented the director of Public Policies of the Ministry of Economy, David Saied.

This index of unemployment is also one of lowest of Latin America, according to the Organization the International of the Work: Mexico (3.9%) and Chile (8.3%) are in better positions, but Panama surpasses in this ranking to many stronger economies, like Brazil (10.3%), Argentina (12.5%), Venezuela (13.2%) and Colombia (15.0%).

"Residential tourism and the agro exportations are two of the main motors that have created this. Also the informal sector continues growing strong, over 5% in the last five years ", recognized Saied.