The Ministry of Economy estimated that the GDP will grow 4% this year, after having registered a rise of 10.3% last year, and a decline of 9.9% in 2020, when the quarantine was imposed to combat the effects of Covid-19.
In this framework of increased production, the INDEC will also announce on Thursday the variation of the Unemployment Index for the first quarter, which will surely be below 10.2% for the same period in 2021.
However, it remains to be seen if the unemployment rate falls below the 7% of the last quarter of last year. For seasonal reasons, in the first quarter of the year those who finished high school enter the labor market and, in general, there is a slight rise in the unemployment rate, due to the fact that more people are looking for work.
The Minister of Economy, Martín Guzmán, had stated a few days ago that “If there is a lack of labor, they should pay the workers more. Because that is what is happening, employment is recovering very strongly.”
“With the recovery of employment, there must be a recovery of the purchasing power of wages. So, when there is a lack of labor, what you have to do is pay more wages. It is an absolutely central objective of economic policy and price policy and income is designed with the objective that the salary beats inflation,” said the official.
Source: Ambito
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