“The branches of activity of the Argentine economy coexist with extremely disparate wage realities. Taking the 25 years between 1996 and 2021, the branch that paid the highest wages was exploitation of mines and quarries (oil and mining),” states one of the conclusions of the report.
Precisely, the oil and mining sectors paid “labor wages 5.6 times higher than those of the branch with the lowest wages (agriculture, livestock, hunting and forestry) which, however, registered the second largest increase in purchasing power since 1996.”
The report released by the portfolio led by Minister Matías Kulfas adds that electricity, gas and water, finance and fishing were the other leading sectors in remuneration.
Most of the branches studied reached their salary peak between 2013 and 2017, although from 2015-2017 salaries tended to decrease gradually, affected by the macroeconomic crisis (and the successive abrupt devaluations of the
peso) since April 2018 and due to the Covid-19 pandemic in 2020.
“All branches except construction, hotels and restaurants, and transport and communications have at least three stages of wage increases and present a real rise from end to end between 1996 and 2021,” the study specifies.
However, there are branches whose “marked oscillations distinguish them from this general description, such as fishing (the branch with the least amount of formal employment) and hotels and restaurants.”
In the case of hotels and restaurants, the global impact of Covid-19 generated an abrupt drop that led to their current average real salary being lower than in 1996 and the lowest in the entire Argentine formal economy.
Source: Ambito
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