Unemployment Rate: Panama
Panama's unemployment rate is currently 7.7% as of 2026. # Panama Unemployment Rate Panama's unemployment rate stands at 7.
Current (2026)
7.7%
-3.7% y/y
Peak (1989)
18.9%
Low (2012)
4.1%
Source
IMF World Economic Outlook
1980–2026 · 51 pts
Unemployment Rate — Panama
1980 — 2026
Unemployment Rate — Panama
Analysis# Panama Unemployment Rate
Panama's unemployment rate stands at 7.7% in 2026, reflecting a substantial long-term improvement from the 1980 baseline. The country has declined 8.3 percentage points over the past 46 years, moving well below its all-time peak of 18.9% in 1989. The 2012 low of 4.1% represents the strongest labor market performance in the recorded period, though current levels remain moderately elevated compared to that benchmark.
The most dramatic disruption occurred in 2020, when unemployment spiked to 18.5% during the pandemic—the second-highest rate on record. Panama recovered quickly, falling to 7.4% by 2023, though a slight uptick to 9.5% in 2024 preceded the current decline. The projected stabilization around 7.7% suggests the labor market has normalized following pandemic volatility, positioning Panama's unemployment within its typical pre-2020 range.
Historical Data
51 Rows| Year | Value | Change % |
|---|---|---|
| 2030 | 7.7% | +0.00% |
| 2029 | 7.7% | +0.00% |
| 2028 | 7.7% | +0.00% |
| 2027 | 7.7% | +0.00% |
| 2026 | 7.7% | -3.75% |
| 2025 | 8.0% | -15.79% |
| 2024 | 9.5% | +28.38% |
| 2023 | 7.4% | -25.25% |
| 2022 | 9.9% | -12.39% |
| 2021 | 11.3% | -38.92% |
| 2020 | 18.5% | +160.56% |
| 2019 | 7.1% | +18.33% |
| 2018 | 6.0% | -1.64% |
| 2017 | 6.1% | +10.91% |
| 2016 | 5.5% | +7.84% |
| 2015 | 5.1% | +6.25% |
| 2014 | 4.8% | +17.07% |
| 2013 | 4.1% | +0.00% |
| 2012 | 4.1% | -8.89% |
| 2011 | 4.5% | -30.77% |
Show all 51 rows
| Year | Value | Change % |
|---|---|---|
| 2010 | 6.5% | -1.52% |
| 2009 | 6.6% | +17.86% |
| 2008 | 5.6% | -12.50% |
| 2007 | 6.4% | -26.44% |
| 2006 | 8.7% | -11.22% |
| 2005 | 9.8% | -16.24% |
| 2004 | 11.7% | -10.00% |
| 2003 | 13.0% | -3.70% |
| 2002 | 13.5% | -3.57% |
| 2001 | 14.0% | +3.70% |
| 2000 | 13.5% | +42.11% |
| 1999 | 9.5% | -18.10% |
| 1998 | 11.6% | -13.43% |
| 1997 | 13.4% | -6.29% |
| 1996 | 14.3% | +2.14% |
| 1995 | 14.0% | +0.00% |
| 1994 | 14.0% | +5.26% |
| 1993 | 13.3% | -9.52% |
| 1992 | 14.7% | -8.13% |
| 1991 | 16.0% | -4.19% |
| 1990 | 16.7% | -11.64% |
| 1989 | 18.9% | +0.53% |
| 1988 | 18.8% | +33.33% |
| 1987 | 14.1% | +12.80% |
| 1986 | 12.5% | -13.19% |
| 1985 | 14.4% | +18.03% |
| 1984 | 12.2% | +5.17% |
| 1983 | 11.6% | +5.45% |
| 1982 | 11.0% | +19.57% |
| 1981 | 9.2% | +9.52% |
| 1980 | 8.4% | — |
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