A Konzerta Study Revealed that 93% of Panama Workers Say Their Salary is not Enough to Live On
Panama leads the region in perceived wage inadequacy. Furthermore, 8 out of 10 workers say they cannot save, and 92% carry some form of debt.
A regional study by the job portal Konzerta found that 93% of workers in Panama say their salary is not enough to cover their basic needs. The findings highlight a severe financial strain for a large majority of the Panamanian workforce:
- Dwindling funds: The study reveals that 96% of respondents see their salary depleted in less than two weeks. In fact, about 41% of workers use 100% of their paycheck on bills the exact day they get paid.
- Low savings capacity: An overwhelming 80% of workers in Panama are entirely unable to save money.
- Where the money goes: The most significant financial burdens are placed on food, rent/housing, and debt payments.
- The bigger picture: The reality is underscored by the high cost of living, with general basic food baskets and living expenses regularly exceeding typical wages, especially in the private sector and informal economy.
