In year-on-year terms, The salary index showed a rise of 67.7%, as a result of increases of 68.3% in the registered private sector, 72.6% in the public sector and 58% in the non-registered private sector.
In this way, public workers were able to increase the purchasing power of wages by a significant margin, private employees were slightly higher with the rise in prices during that period, and undocumented workers were the most affected, since the value of their wages was very far from the inflationary increase in the last year.
For June 2022, the Salary Index accumulates a growth of 34.3% compared to December of the previous year, due to increases of 36% in the registered private sector, 35.2% in the public sector and 27.9% in the private sector. unregistered private sector.
The Salary Index had increased, 6.2% monthly in May, and exceeded inflation (5.1%). In said period, the monthly growth was due to increases of 7% in the registered private sector, 6.6% in the public sector and 3.2% in the unregistered private sector.
It should be remembered that, according to the Indec, inflation accelerated slightly in June to 5.3% compared to May.
“All sectors presented falls in their purchasing power. Once again, the unregistered private sector was the hardest hit, with a real drop of 0.7% month-on-month, and continues to widen the gap with the registered private sector, which posted a real loss of 0.2% month-on-month. For their part, public sector employees also had a real fall of 0.7% in that period”, they highlighted from the LCG consultancy.
They also noted that the fall in the purchasing power of the general level of wages deepens month by month and accumulates a cut of 23% compared to November 2017, the last ceiling. “Not surprisingly, the most affected were informal workers with a cumulative drop of 35.3%, while registered public and private workers had a loss of 19.5%,” they detailed.
On Wednesday of last week, in his first press conference as Economy Minister, Serge Massa he announced that he will look for “ensure a mechanism that allows the recovery of income“ of private sector workers earning between $50,000 and $150,000. It is expected that there will be both a revision of salaries and family allowances, or the possibility of a bonus that compensates for inflation.
News in development…
Source: Ambito
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