Regarding discussions on the minimum wage, no conclusion has been agreed between the parties -workers and employers, and if this situation continues until the end of the year, it could mean that the final figure is established by Executive decree.
In the discussions and statements on the subject positions are the same as ever: workers are asking for more, and businesses are presenting their reasons for not granting the amount.
Federico Humbert, president of the Panamanian Chamber of Commerce and Industry, exhibits a more conciliatory view, saying that a minimum wage increase is fair, but that "any increase in the minimum wage should be defined based on the productivity of Panamanian labor , considering that at this time, due to the high demand for workers in the market, wages being paid by companies have increased significantly. "
A PricewaterhouseCoopers survey indicates that: "in 2011 in Panamanian wages increased on average by 6.4%, but if you look at the type of business and its size this figure varies, increases in multinational companies stood at 7.34% and large companies at 6.34%. "
Source: Capital.com.pa
More on this topic
June 2008
Workers in Costa Rica's private sector are about to get a 6.58 percent raise.
Persons in this sector and those who have a "semi-qualified" employment will receive this amount plus a 4,000-colon monthly subsidy of 4,000 colons (about 7.69 dollars).
Those who do not have specific qualifications will get the same salary increase and a 5,000-colon subsidy (about 9.61 dollars).
November 2010
According to a PricewaterhouseCoopers survey, from January to October 2010 the average annual compensation increased 8.1%.
Of the 501 companies surveyed, 65% granted salary increases to their executives.
The largest increases were in small businesses (10.1% average), followed by large and medium with 7.6%.
November 2008
Companies, workers and the government are discussing a new salary increase for the private sector; the initial proposal is for a 10% increase starting January 2009.
Sources close tot he Minimum Salary Superior Council who asked to remain anonimous indicated that the debate is already focused on those figures and terms, but that they are waiting for the Government representatives, and private workers unions to give the last word after internal consultations.
November 2010
The government has established by decree a minimum wage increase ranging between 3 and 6%.
The percentage increases varies with the number of company workers and whether it is in an urban or rural area.
"Workers earning $ 291.08 in urban areas, whose companies have more than 50 workers must now receive $ 311.51, so these employees will earn an additional $20.43", explained Tiempo.hn.
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