Challenges for Young People Entering the World of Work

 
700Views 0Comments Posted 20/06/2024

Youth unemployment is a worrying problem in Panama, deeply affecting a generation that faces various economic and social challenges due to the lack of job opportunities.  With an unemployment rate that exceeds the national average, young people in Panama find themselves in a complicated position that requires urgent attention and action.  Lack of work experience, new market needs, and competition for limited jobs are factors that contribute to this situation. 

 

According to young university students, when applying for jobs, they are asked to already have work experience, which they do not yet have.  They also expressed the need to receive advice to choose technical, professional or bachelor's degrees that offer job opportunities once they enter the labor market.  Some suggested that companies should have a mix of young people and experienced people to achieve a balance in production.  According to statistics from the National Institute of Statistics and Census (INEC), of every 100 young people, at least 45 are working, 31 are studying and 24 are neither studying nor working.  However, of the 45 young people who are working, not all have formal employment, since many are entrepreneurs or work in informal jobs. 

 

According to some experts, young people who obtain salaried jobs have an average salary of 695 dollars per month, which represents 40 dollars less than the average salary in the economy.  In addition, obtaining good-paying jobs is becoming increasingly difficult for young people.