Workers seek $765 monthly minimum wage

From the perspective of workers, the minimum wage that should govern between 2024 and 2025 in Panama would have to compensate for the drop in the purchasing power of employees, correct the remuneration structure that is currently applied, and cover public employees.

This is indicated by the proposal presented by the workers’ representatives in the National Minimum Wage Commission, which aims to ensure that the average minimum wage, which is currently at $577, can rise and be above $700 and $765 per month. revealed Eduardo Gil, main delegate for the National Council of Organized Workers (Conato).

The average adjustment presented by the workers estimates that the minimum wage will be raised between 30% and 32% for workers in large companies and between 20% and 25% for small companies, considering the particularities of each sector.

“The total household expenditure, based on the MEF Basic Food Basket, is $1,530.22. For two employees in a household to be able to cover this total expense, an increase of 32.6% is required in the minimum wage.

The average minimum wage that worker representatives aspire to would rise to $765 per month.

However, the workers also indicate that in very few homes there are two earners, so if a person only earns a minimum wage they will not be able to cover all of their family’s needs