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

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.

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 Local Government Establishments in Panama City-Lynn Haven, FL (MSA) (ENUC374640310SA) from Q1 1990 to Q4 2024 about Panama City, local govt, establishments, average, FL, wages, government, employment, and USA.

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

Average Weekly Earnings of All Employees: Total Private in Panama City, FL (MSA) was 1060.33000 $ per Week in March of 2025, according to the United States Federal Reserve. Historically, Average Weekly Earnings of All Employees: Total Private in Panama City, FL (MSA) reached a record high of 1060.33000 in March of 2025 and a record low of 561.77000 in March of 2010. Trading Economics provides the current actual value, an historical data chart and related indicators for Average Weekly Earnings of All Employees: Total Private in Panama City, FL (MSA) - last updated from the United States Federal Reserve on May of 2025.

Graph and download economic data for Average Hourly Earnings of All Employees: Total Private in Panama City-Panama City Beach, FL (MSA) (SMU12374600500000003) from Jan 2007 to May 2025 about Panama City, earnings, hours, FL, private, employment, and USA.

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.

Average Weekly Earnings of All Employees: Total Private in Panama City, FL (MSA) (DISCONTINUED) was 871.55407 $ per Week in March of 2022, according to the United States Federal Reserve. Historically, Average Weekly Earnings of All Employees: Total Private in Panama City, FL (MSA) (DISCONTINUED) reached a record high of 924.02354 in January of 2021 and a record low of 553.90942 in March of 2010. Trading Economics provides the current actual value, an historical data chart and related indicators for Average Weekly Earnings of All Employees: Total Private in Panama City, FL (MSA) (DISCONTINUED) - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for Average Weekly Earnings of All Employees: Total Private in Panama City-Panama City Beach, FL (MSA) (SMU12374600500000011) from Jan 2007 to May 2025 about Panama City, earnings, FL, private, employment, and USA.

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 PA: Wage And Salaried Workers: Modeled ILO Estimate: Female: % of Female Employment data was reported at 66.733 % in 2017. This records an increase from the previous number of 66.591 % for 2016. Panama PA: Wage And Salaried Workers: Modeled ILO Estimate: Female: % of Female Employment data is updated yearly, averaging 74.855 % from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 83.939 % in 1993 and a record low of 66.415 % in 2015. Panama PA: Wage And Salaried Workers: Modeled ILO Estimate: Female: % of Female Employment data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Panama – Table PA.World Bank: Employment and Unemployment. Wage and salaried workers (employees) are those workers who hold the type of jobs defined as 'paid employment jobs,' where the incumbents hold explicit (written or oral) or implicit employment contracts that give them a basic remuneration that is not directly dependent upon the revenue of the unit for which they work.; ; International Labour Organization, ILOSTAT database. Data retrieved in November 2017.; Weighted average; Data up to 2016 are estimates while data from 2017 are projections.

Panama PA: Wage And Salaried Workers: Modeled ILO Estimate: % of Total Employment data was reported at 64.248 % in 2017. This records an increase from the previous number of 64.114 % for 2016. Panama PA: Wage And Salaried Workers: Modeled ILO Estimate: % of Total Employment data is updated yearly, averaging 66.716 % from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 69.348 % in 2008 and a record low of 63.952 % in 2015. Panama PA: Wage And Salaried Workers: Modeled ILO Estimate: % of Total Employment data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Panama – Table PA.World Bank: Employment and Unemployment. Wage and salaried workers (employees) are those workers who hold the type of jobs defined as 'paid employment jobs,' where the incumbents hold explicit (written or oral) or implicit employment contracts that give them a basic remuneration that is not directly dependent upon the revenue of the unit for which they work.; ; International Labour Organization, ILOSTAT database. Data retrieved in November 2017.; Weighted average; Data up to 2016 are estimates while data from 2017 are projections.

Average Hourly Earnings of All Employees: Total Private in Panama City, FL (MSA) was 28.48000 $ per Hour in April of 2025, according to the United States Federal Reserve. Historically, Average Hourly Earnings of All Employees: Total Private in Panama City, FL (MSA) reached a record high of 29.04000 in March of 2025 and a record low of 16.77000 in January of 2007. Trading Economics provides the current actual value, an historical data chart and related indicators for Average Hourly Earnings of All Employees: Total Private in Panama City, FL (MSA) - last updated from the United States Federal Reserve on June of 2025.

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 Beach. 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 Beach, the median income for all workers aged 15 years and older, regardless of work hours, was $53,041 for males and $33,732 for females.

These income figures highlight a substantial gender-based income gap in Panama City Beach. Women, regardless of work hours, earn 64 cents for each dollar earned by men. This significant gender pay gap, approximately 36%, underscores concerning gender-based income inequality in the city of Panama City Beach.

- Full-time workers, aged 15 years and older: In Panama City Beach, among full-time, year-round workers aged 15 years and older, males earned a median income of $67,226, while females earned $55,584, leading to a 17% gender pay gap among full-time workers. This illustrates that women earn 83 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.

Surprisingly, the gender pay gap percentage was higher across all roles, including non-full-time employment, for women compared to men. This suggests that full-time employment offers a more equitable income scenario for women compared to other employment patterns in Panama City Beach.

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 Beach median household income by race. You can refer the same here

How much do software development professionals earn in Latin America? Among the presented countries, software developers in Panama had the highest median annual salary, amounting to 50 thousand U.S. dollars.

Panama scored 0.72 in the gender gap index area of economic participation and opportunity in 2024. This means that women are 27 percent less likely to have equal economic participation and opportunities than men. That year, the country scored 0.7 in estimated earned income, which shows that, on average, women in Panama earn 70 percent of the income earned by men.

Panama PA: BoP: Current Account: Primary Income: Compensation of Employees data was reported at 84.500 USD mn in 2017. This records an increase from the previous number of 73.600 USD mn for 2016. Panama PA: BoP: Current Account: Primary Income: Compensation of Employees data is updated yearly, averaging 73.000 USD mn from Dec 1977 (Median) to 2017, with 41 observations. The data reached an all-time high of 135.700 USD mn in 1979 and a record low of 0.000 USD mn in 2002. Panama PA: BoP: Current Account: Primary Income: Compensation of Employees data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Panama – Table PA.IMF.BOP: BPM6: Balance of Payments: Detailed Presentation: Annual.

This chart shows what each category of occupation typically earns in a certain area.

In 2023, four Caribbean nations were the countries with the highest gross national income per capita in Latin America and the Caribbean. On average, the national gross income amounted to around 31,990 U.S. dollars per person in the Bahamas, an island country which also had one of the highest gross domestic product per capita in this region. Outside the Caribbean Excluding the Caribbean, the economies with the highest national income per capita are generally located in South America, with the exceptions of Panama, Costa Rica and Mexico. Guyana leads among continental states with a national income of around 20.360 U.S. dollars per person. Gross national income (GNI) is the aggregated sum of the value added by residents in an economy, plus net taxes (minus subsidies) and net receipts of primary income from abroad. The biggest economies Brazil and Mexico are still miles ahead in the race for the biggest economy of Latin America. As of 2023, both nations exceeded the two trillion U.S. dollars mark in their Gross Domestic Product (GDP). While Argentina's GDP, third place, slightly surpassed the 600 billion U.S. dollars. Nonetheless, both nations also ranked as the most populated by far in the region.