Are Wages In Panama Fair?
(costaricapages.com) Do Panamanians Earn Enough Money To Survive?
Panama’s minimum wage is much lower than in first world countries. The argument used to be that the cost of living is much cheaper in Panama than in North American and European countries. Though that still holds true in some instances, prices are skyrocketing in Panama. Should Panamanians be earning more money?
Panama’s minimum wage depends on the area of the country. In the countryside of Panama, some people earn just $250 per month. In Panama City, the minimum is a bit higher. Even if a Panamanian is earning $400 a month, there is a good chance they are supporting a family on that small amount of money.
Panamanians must pay for school uniforms for their children, feed the family, pay the ever increasing price of electricity and gas. Thanks to the real estate boom in Panama, some Panamanians are no longer able to afford a nice, middle class home because they are now priced out of the market. A gallon of gas costs the same amount of money as it does in the US or Canada, but who in North America would work for just $400 per month?
Some Panamanians in Panama’s interior provinces earn just $45 per week. $45 does not go very far in the grocery store alone. Add to that transportation costs, electricity, housing, etc. There certainly isn’t much (if anything) left over at the end of the month. Costs are rising in Panama, should the wages be increasing as well?
Low wages in Panama are not exclusive to untrained workers. Panamanian doctors and dentists start out their careers earning about $1200 per month. These are some of the best trained professionals in the world, yet earn the amount of money in one month that a doctor in the US would make in a couple of days.
Many foreigners in Panama complain that it is difficult to hire good help. It seems only reasonable that a well trained, well educated Panamanian would leave Panama and move to a country where they are paid what they are worth.
Agree? Disagree?
