Panama: Youth unemployment
* indicates monthly or quarterly data series
| Panama |
Youth unemployment, ages 15-24 |
|---|---|
| Latest value | 18.22 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1991 - 2023 |
| Average | 14.38 |
| Min - Max | 9.59 - 31.88 |
| Source | The World Bank |
The latest value from 2023 is 18.22 percent, a decline from 19.19 percent in 2022. In comparison, the world average is 16.02 percent, based on data from 178 countries. Historically, the average for Panama from 1991 to 2023 is 14.38 percent. The minimum value, 9.59 percent, was reached in 2012 while the maximum of 31.88 percent was recorded in 2020.
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* indicates monthly or quarterly data series
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We present the rate of youth unemployment for Panama and other countries. Youth unemployment is the percent of 15-24 year olds who are part of the labor force but are unemployed. Recall that the labor force includes the employed and the unemployed people.
Definition: Youth unemployment refers to the share of the labor force ages 15-24 without work but available for and seeking employment.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Labor force | 2.10 | 2023 | million people |
| Unemployment rate | 6.70 | 2023 | percent |
| Female unemployment | 9.35 | 2023 | percent |
| Male unemployment | 6.51 | 2023 | percent |
| Youth unemployment | 18.22 | 2023 | percent |
| Labor force participation | 63.24 | 2023 | percent |
| Labor force: percent female | 40.15 | 2023 | percent |
| Female labor force participation | 50.33 | 2023 | percent |
| Male labor force participation | 76.38 | 2023 | percent |
| Self-employment | 44.32 | 2022 | percent |
| Informal employment | 56.10 | 2020 | percent |