While the private sector has mostly ironed against November 2023, the strong adjustment is made on public employees who lose almost 20% of their purchasing power. The unregistered ones would be the only ones who recovered.
Far from one sustained recoverythe registered salaries They still show one Stable trend in 2025. February, May and July were the only months that registered real increases, while January, March, April and June scored setbacks. In the comparison with 2023, however, The assets show a 5.25% drop compared to inflationalthough if the new basket of the Consumer Price Index (Engho 2017-2018) The real loss is deepened to 11.2%.
“The dynamics of the first seven months of the year shows an erratic pattern without a clear trend of sustained recovery“They stood out from the consultant Vector, while cataloging the trend as a “Amestation” in the evolution of registered assets.
While The private sector is ironed against November 2023with a loss of 0.33% of the purchasing power, The public was the most harmed with a real 14% drop compared to INDEC inflation.
However, with the New CPI basket -What provides a greater weighting of public services spending, lower in food and includes spending on digital platforms- The falls of assets are even more bulky: Public employees have a loss of 19.4% of purchasing power in their remuneration, while private 6.6%. In this way, the wage threshold was located at 80.6 and 93.4 points, respectively.
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“While the private sector orbited during the last months around the reference base (Nov-23)-even briefly surpassing them during the four-month period November 2024-February 2025)- The public sector has not even managed to approach a significant recovery“, highlights the private report of the consultant.
A countermarket, the unregistered show a sustained recovery
The exception to the rule continue to be the savings of the unregistered sectorthat are relieved with a five -month lag. Thus, this segment reached a new peak with an index of 117.8 according to the IPC of INDEC and one of 110.7 with the updated index at the end of February this year. This represents a real increase of 17.8% and 10.7%, respectively compared to the values of November 2023.
“The dynamics of sustained growth of this sector contrasts strongly with what is observed for the registered sector. From its lowest point between February and April 2024 (according to the weights used), the unregistered sector initiated a consistent recovery and without significant interruptions. Each month registered advances, consolidating an ascending trajectory, “they highlighted from Vector.
However, the survey of this segment is the least used by the specialists not only by the lag, but also by the way in which the information is collected, through the Permanent Household Survey (EPH) that is published quarterly.
“This photograph with updated weights marks a polarization of the national labor market: on the one hand, deeply lagging public workers; in the middle, Registered private workers who barely maintain their purchasing power; And at the top, Unregistered workers who have achieved increases, probably benefited by greater flexibility to adjust remuneration and the lower exposure to salary containment policies“They concluded from the consultant.
Source: Ambito
