Wages in Panama increased to 1288 PAB/Month in 2023 from 1275 PAB/Month in 2022. This dataset provides - Panama Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Panama Monthly Earnings

• Panama Monthly Earnings stood at 1,288 USD in Aug 2023, compared with the previous figure of 1,287 USD in Aug 2022
• Panama Monthly Earnings data is updated yearly, available from Aug 1970 to Aug 2023, with an average number of 520 USD
• The data reached the an all-time high of 1,422 USD in Aug 2018 and a record low of 198 USD in Aug 1970

CEIC converts Monthly Earnings into USD. The National Institute of Statistics and Census provides Average Monthly Earnings in local currency. The International Monetary Fund average market exchange rate is used for currency conversions. Monthly Earnings are in annual frequency, ending in August of each year.


Further information about Panama Monthly Earnings

• In the latest reports, Panama Population reached 5 million people in Jun 2024
• Unemployment Rate of Panama dropped to 7 % in Aug 2023
• The country's Labour Force Participation Rate increased to 62 % in Aug 2023

The national gross income per capita in Panama increased by 900 U.S. dollars (+5.3 percent) in 2023. With 17,870 U.S. dollars, the national gross income thereby reached its highest value in the observed period. Gross national income (GNI) per capita is the total amount of money received by a country (regardless of whether it originates in the country or abroad) divided by the midyear population. The World Bank uses a conversion system known as the Atlas method, which uses a price adjusted, three year moving average, which smooths out exchange rate fluctuations.Find more statistics on other topics about Panama with key insights such as value added by the services industry to the gross domestic product, share of value added by the services industry to gross domestic product, value added by the agriculture, forestry, and fishing sector to the gross domestic product.

Graph and download economic data for Average Weekly Wages for Employees in Total Covered Establishments in Panama City-Lynn Haven, FL (MSA) (ENUC374640010) from Q1 1990 to Q4 2024 about Panama City, covered, establishments, average, FL, wages, employment, and USA.

About this dataset

Context

The dataset presents the distribution of median household income among distinct age brackets of householders in Panama. Based on the latest 2019-2023 5-Year Estimates from the American Community Survey, it displays how income varies among householders of different ages in Panama. It showcases how household incomes typically rise as the head of the household gets older. The dataset can be utilized to gain insights into age-based household income trends and explore the variations in incomes across households.

Key observations: Insights from 2023

In terms of income distribution across age cohorts, in Panama, householders within the 65 years and over age group have the highest median household income at $75,938, followed by those in the under 25 years age group with an income of $60,417. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $43,875. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $27,813.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2023-inflation-adjusted dollars.

Age groups classifications include:

• Under 25 years
• 25 to 44 years
• 45 to 64 years
• 65 years and over

Variables / Data Columns

• Age Of The Head Of Household: This column presents the age of the head of household
• Median Household Income: Median household income, in 2023 inflation-adjusted dollars for the specific age group

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Panama median household income by age. You can refer the same here

About this dataset

Context

The dataset presents the mean household income for each of the five quintiles in Panama City Beach, FL, as reported by the U.S. Census Bureau. The dataset highlights the variation in mean household income across quintiles, offering valuable insights into income distribution and inequality.

Key observations

• Income disparities: The mean income of the lowest quintile (20% of households with the lowest income) is 23,075, while the mean income for the highest quintile (20% of households with the highest income) is 268,460. This indicates that the top earners earn 12 times compared to the lowest earners.
• *Top 5%: * The mean household income for the wealthiest population (top 5%) is 441,508, which is 164.46% higher compared to the highest quintile, and 1913.36% higher compared to the lowest quintile.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates.

Income Levels:

• Lowest Quintile
• Second Quintile
• Third Quintile
• Fourth Quintile
• Highest Quintile
• Top 5 Percent

Variables / Data Columns

• Income Level: This column showcases the income levels (As mentioned above).
• Mean Household Income: Mean household income, in 2023 inflation-adjusted dollars for the specific income level.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Panama City Beach median household income. You can refer the same here

Costa Rica is the country with the highest minimum monthly wage in Latin America. According to the minimum salary established by law as of January 2025, workers in the Central American country enjoy a basic monthly wage of over 726 U.S. dollars, an increase of 2.37 percent compared to the previous year. They also earn over 200 U.S. dollars more than the second place, Uruguay. On the other side of the spectrum is Venezuela, where employees are only guaranteed by law a minimum salary of 130 bolívares or little more than 2.50 dollars per month. Can Latin Americans survive on a minimum wage? Even if most countries in Latin America have instated laws to guarantee citizens a basic income, these minimum standards are often not enough to meet household needs. For instance, it was estimated that almost 25 million people in Mexico lacked basic housing services. Salary levels also vary greatly among Latin American economies. In 2020, the average net monthly salary in Mexico was barely higher than Chile's minimum wage in 2021. What can a minimum wage afford in Latin America? Latin American real wages have generally risen in the past decade. However, consumers in this region still struggle to afford non-basic goods, such as tech products. Recent estimates reveal that, in order to buy an iPhone, Brazilian residents would have to work at least two months to be able to pay for it. A gaming console, on the other hand, could easily cost a Latin American worker several minimum wages.

Panama Average Monthly Earning: Private Sector (PS) data was reported at 766.346 PAB in 2012. This records an increase from the previous number of 702.244 PAB for 2011. Panama Average Monthly Earning: Private Sector (PS) data is updated yearly, averaging 418.320 PAB from Aug 1970 (Median) to 2012, with 37 observations. The data reached an all-time high of 766.346 PAB in 2012 and a record low of 177.300 PAB in 1970. Panama Average Monthly Earning: Private Sector (PS) data remains active status in CEIC and is reported by National Institute of Statistics and Census. The data is categorized under Global Database’s Panama – Table PA.G009: Average Monthly Earning.

Panama Average Monthly Earning: PS: Private Companies data was reported at 769.796 PAB in 2012. This records an increase from the previous number of 704.097 PAB for 2011. Panama Average Monthly Earning: PS: Private Companies data is updated yearly, averaging 420.070 PAB from Aug 1970 (Median) to 2012, with 37 observations. The data reached an all-time high of 769.796 PAB in 2012 and a record low of 182.850 PAB in 1972. Panama Average Monthly Earning: PS: Private Companies data remains active status in CEIC and is reported by National Institute of Statistics and Census. The data is categorized under Global Database’s Panama – Table PA.G009: Average Monthly Earning.

Panama Average Monthly Earning: PU: Municipalities data was reported at 640.787 PAB in 2016. This records an increase from the previous number of 569.240 PAB for 2015. Panama Average Monthly Earning: PU: Municipalities data is updated yearly, averaging 290.060 PAB from Aug 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 640.787 PAB in 2016 and a record low of 117.980 PAB in 1970. Panama Average Monthly Earning: PU: Municipalities data remains active status in CEIC and is reported by National Institute of Statistics and Census. The data is categorized under Global Database’s Panama – Table PA.G009: Average Monthly Earning.

Average Monthly Earning data was reported at 1,287.851 PAB in 2023. This records an increase from the previous number of 1,287.109 PAB for 2022. Average Monthly Earning data is updated yearly, averaging 519.885 PAB from Aug 1970 (Median) to 2023, with 48 observations. The data reached an all-time high of 1,422.029 PAB in 2018 and a record low of 198.020 PAB in 1970. Average Monthly Earning data remains active status in CEIC and is reported by National Institute of Statistics and Census. The data is categorized under Global Database’s Panama – Table PA.G016: Average Monthly Earnings.

Panama City, FL - Average Weekly Wages for Employees in Private Establishments in Panama City-Lynn Haven, FL (MSA) was 988.68802 $ per Week in October of 2024, according to the United States Federal Reserve. Historically, Panama City, FL - Average Weekly Wages for Employees in Private Establishments in Panama City-Lynn Haven, FL (MSA) reached a record high of 988.68802 in October of 2024 and a record low of 301.53324 in January of 1990. Trading Economics provides the current actual value, an historical data chart and related indicators for Panama City, FL - Average Weekly Wages for Employees in Private Establishments in Panama City-Lynn Haven, FL (MSA) - last updated from the United States Federal Reserve on June of 2025.

Panama Average Monthly Earning: PU: Central Government data was reported at 1,143.790 PAB in 2016. This records an increase from the previous number of 1,058.835 PAB for 2015. Panama Average Monthly Earning: PU: Central Government data is updated yearly, averaging 449.460 PAB from Aug 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 1,143.790 PAB in 2016 and a record low of 177.140 PAB in 1970. Panama Average Monthly Earning: PU: Central Government data remains active status in CEIC and is reported by National Institute of Statistics and Census. The data is categorized under Global Database’s Panama – Table PA.G009: Average Monthly Earning.

About this dataset

Context

The dataset presents median income data over a decade or more for males and females categorized by Total, Full-Time Year-Round (FT), and Part-Time (PT) employment in Panama City. It showcases annual income, providing insights into gender-specific income distributions and the disparities between full-time and part-time work. The dataset can be utilized to gain insights into gender-based pay disparity trends and explore the variations in income for male and female individuals.

Key observations: Insights from 2023

Based on our analysis ACS 2019-2023 5-Year Estimates, we present the following observations: - All workers, aged 15 years and older: In Panama City, the median income for all workers aged 15 years and older, regardless of work hours, was $42,227 for males and $29,412 for females.

These income figures indicate a substantial gender-based pay disparity, showcasing a gap of approximately 30% between the median incomes of males and females in Panama City. With women, regardless of work hours, earning 70 cents to each dollar earned by men, this income disparity reveals a concerning trend toward wage inequality that demands attention in thecity of Panama City.

- Full-time workers, aged 15 years and older: In Panama City, among full-time, year-round workers aged 15 years and older, males earned a median income of $55,662, while females earned $45,628, leading to a 18% gender pay gap among full-time workers. This illustrates that women earn 82 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.

Remarkably, across all roles, including non-full-time employment, women displayed a similar gender pay gap percentage. This indicates a consistent gender pay gap scenario across various employment types in Panama City, showcasing a consistent income pattern irrespective of employment status.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2023-inflation-adjusted dollars.

Gender classifications include:

• Male
• Female

Employment type classifications include:

• Full-time, year-round: A full-time, year-round worker is a person who worked full time (35 or more hours per week) and 50 or more weeks during the previous calendar year.
• Part-time: A part-time worker is a person who worked less than 35 hours per week during the previous calendar year.

Variables / Data Columns

• Year: This column presents the data year. Expected values are 2010 to 2023
• Male Total Income: Annual median income, for males regardless of work hours
• Male FT Income: Annual median income, for males working full time, year-round
• Male PT Income: Annual median income, for males working part time
• Female Total Income: Annual median income, for females regardless of work hours
• Female FT Income: Annual median income, for females working full time, year-round
• Female PT Income: Annual median income, for females working part time

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Panama City median household income by race. You can refer the same here

Panama Average Monthly Earning: Public Sector (PU) data was reported at 1,258.797 PAB in 2016. This records an increase from the previous number of 1,131.909 PAB for 2015. Panama Average Monthly Earning: Public Sector (PU) data is updated yearly, averaging 488.340 PAB from Aug 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 1,258.797 PAB in 2016 and a record low of 184.050 PAB in 1970. Panama Average Monthly Earning: Public Sector (PU) data remains active status in CEIC and is reported by National Institute of Statistics and Census. The data is categorized under Global Database’s Panama – Table PA.G009: Average Monthly Earning.

Uruguay was the Latin American country with the highest average monthly salary as of 2024, with a net value of around ***** U.S. dollars per month, followed by Costa Rica, with *** U.S. dollars per month. Employment development areas in Latin America Following the recuperation in this sector after the job losses endured throughout the COVID-19 pandemic, the unemployment rate persists in its endeavor to stabilize. Informal employment remains as the predominant actor across most Latin American countries, serving as a primary avenue for economic sustenance. Notably, the construction sector has experienced substantial growth, outpacing other relevant industries like tourism and hospitality. Poverty Throughout the past two decades, poverty levels in Latin America remain unchanged. Honduras takes the lead as the country bearing the highest poverty rate, with nearly half of its population dwelling in these circumstances. Across the region, the prevalent delineation is that of individuals classified within the non-extreme and lower-middle poverty strata, characterized by modest income levels.

Panama Average Monthly Earning: PS: Banana Plantation Zones data was reported at 520.656 PAB in 2016. This records a decrease from the previous number of 530.636 PAB for 2015. Panama Average Monthly Earning: PS: Banana Plantation Zones data is updated yearly, averaging 387.600 PAB from Aug 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 556.080 PAB in 1995 and a record low of 140.360 PAB in 1971. Panama Average Monthly Earning: PS: Banana Plantation Zones data remains active status in CEIC and is reported by National Institute of Statistics and Census. The data is categorized under Global Database’s Panama – Table PA.G009: Average Monthly Earning.

Panama Average Monthly Earning: PU: Autonomous & Semi-Autonomous Institutions data was reported at 1,490.178 PAB in 2016. This records an increase from the previous number of 1,299.023 PAB for 2015. Panama Average Monthly Earning: PU: Autonomous & Semi-Autonomous Institutions data is updated yearly, averaging 545.310 PAB from Aug 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 1,490.178 PAB in 2016 and a record low of 220.870 PAB in 1970. Panama Average Monthly Earning: PU: Autonomous & Semi-Autonomous Institutions data remains active status in CEIC and is reported by National Institute of Statistics and Census. The data is categorized under Global Database’s Panama – Table PA.G009: Average Monthly Earning.

Panama City, FL - Average Weekly Wages for Employees in Federal Government Establishments in Panama City-Lynn Haven, FL (MSA) was 1749.93070 $ per Week in October of 2024, according to the United States Federal Reserve. Historically, Panama City, FL - Average Weekly Wages for Employees in Federal Government Establishments in Panama City-Lynn Haven, FL (MSA) reached a record high of 1872.26680 in July of 2024 and a record low of 488.44114 in April of 1990. Trading Economics provides the current actual value, an historical data chart and related indicators for Panama City, FL - Average Weekly Wages for Employees in Federal Government Establishments in Panama City-Lynn Haven, FL (MSA) - last updated from the United States Federal Reserve on June of 2025.

About this dataset

Context

The dataset illustrates the median household income in Panama City, spanning the years from 2010 to 2023, with all figures adjusted to 2023 inflation-adjusted dollars. Based on the latest 2019-2023 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2023, the median household income for Panama City increased by $5,045 (9%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $5,602 (7.68%) between 2010 and 2023.

Analyzing the trend in median household income between the years 2010 and 2023, spanning 13 annual cycles, we observed that median household income, when adjusted for 2023 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 8 years and declined for 5 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

• 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 0223

Variables / Data Columns

• Year: This column presents the data year from 2010 to 2023
• Median Household Income: Median household income, in 2023 inflation-adjusted dollars for the specific year
• YOY Change($): Change in median household income between the current and the previous year, in 2023 inflation-adjusted dollars
• YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Panama City median household income. You can refer the same here