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Wednesday, March 29, 2023

Industrial employment grows 30 months ago: it created 86,000 jobs

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In this way, private registered employment in industry (series without seasonality) returned to growth in December 2019, in which they recovered until November 2022 more than 86,600 jobs.

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In November only 1,170 positions were created, which allowed accumulating 16 months of monthly growth and 30 months of sustained expansion. Compared to the previous month, they created 0.3% more than jobs, and a 4.3% in terms YoY, equivalent to 47,800 more workers. Compared to 2019, this means an increase of 8%.

In addition, industrial production has a sustained rise, which explains its position as one of the engines of job creation.

The Automotive industry registered in January a rise of 45.8% in relation to the same month last year.

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“There are two models of the country: the financial speculation of the previous government, which led thousands of families to lose their industrial jobs; and ours, which has its axis in production and work. Sergio Massa’s economic team is complying with the commitment to order the macroeconomic variables, sustaining the level of activity and employment,” said the Secretary of Industry and Productive Development, Jose Ignacio de Mendiguren.

One of the sectors that registers the highest level of industrial activity is the automotive which began the year with rising numbers, in relation to the beginning of 2022, according to data collected by the Association of Automotive Manufacturers (ADEFA).

At the national vehicle production level, the sector reached a rise of 45.8% in January 2023 compared to the same month last year, that is, a total production of 27,184 units.

In this context, it stands out both the increase in exports as well as sales in the local market, which in year-on-year terms also recorded rising numbers. According to the report, the automotive sector exported 11,358, that is, a 22.2% more than in January 2022.

For their part, the sales to dealers accounted for 22,112 unitswhich means a 9.8% improvement compared to the same month of the previous year. These numbers with which the sector started the year coincide with the estimates of the sector that project, by 2023, a growth of the order of between 10 and 15% in production.

“Although the volumes for January reflect the usual seasonality due to plant stoppages for vacations, the behavior of the main variables is aligned with the estimated projections for the year of growth in the order of 10 to 15%, which is is reflected in the year-on-year comparisons,” he said. Martin Galdeano, ADEFA President.

Source: Ambito

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