Today December 31st, the Panamanian Government set the new Minimum Wage, which will take effect beginning on Wednesday, January 15, 2020.
This represents an increase of 3.3% (average) resulting in US$ 3.38, US$ 3.58 and US$ 4.67 per hour for the more costly activities. Thus, the top minimum wage is set at US$971.28 per month.
The minimum wage in Panama is set by activity, business size and region, with the lowest rate being US$1.55 per hour, mainly for agricultural activities. Domestic service was set between US$275 and US$300 per month, depending on the geographic area.
Any current salary higher than the ones set by law will remain valid.