The survey, carried out based on data from INDEC and the Ministry of Labor, indicated that “between December 2019 and July 2022 (latest data available) salaries increased 197%while the CBA did it 228%“.
The report added that the sector that had the most deterioration in their income “were unregistered private workers, who had an increase in their salaries of 171% and registered workers who receive the Minimum Vital and Mobile Salary (SMVM) that grew 170% “.
“In both cases, the difference with the increase in the CBA is around 60 percentage points,” the study noted.
The sector that was least affected was the registered private workers who had an increase of 203% and public sector employees who improved their salaries by 201%.
The Average Remuneration of Stable Registered Workers (RIPTE), increased 206%, 22 points less than the Basic Food Basket.
According to the survey of the Foundation, the registered workers and those of the public sector, the wage increases were above the accumulated rise of the Total Basic Food Basket (CBT) surveyed by INDEC.
Until last September, the study recorded that the CBA had an accumulated increase of 276% and the CBT of 241%, which places the increases 79 and 44 percentage points above the average wages of the economy, according to the INDEC survey. “.
The Chief Economist at the Fundación Libertad y Progreso, Eugene Mari, expressed that “The loss of purchasing power of wages responds to an economy where work is less and less productive.”
Marí added that this wage loss is due to “the enormous distortions that hinder production and investment, starting with inflation, but also including the exchange rate trap, regulations and tax pressure.”
Source: Ambito
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