In July, registered private salaried employment showed a rise of 0.1% that implies 4,651 jobs. This figure is lower than that registered during the first four months of the year, where there was a monthly average growth of 0.3% or about 19,300 jobs per month, he explained to UIA. In the year-on-year comparison, the rise was 1.7%, about 98,807 positions.
“If compared to July 2019, it is still -3.5% below (-212 thousand positions). The most affected sector continues to be Hotels and restaurants, with a year-on-year fall of -11.1% (-25,200 workers ) and 23.1% compared to 2019 (-60,271 workers), “the report said.
“After the slowdown from May due to the impact of sanitary restrictions, the data available for August show some improvement. According to the Labor Indicators Survey (EIL) of the Ministry of Labor, the net expectations of hiring in the private sector for the next three months were in positive territory (5.6% of companies expect to increase their staffing while 1.4% expect to reduce it), and they reached the highest level since April 2018, “explained the Argentine Industrial Union.
Subsequently, they analyzed the situation for the next few months: “The improvement in the health situation and the sustained decrease in daily cases of Covid-19, in line with the recovery in production, could generate a positive impact during the coming months in sectors that were relegated.”
However, the report cautions that “Expectations for job recovery still remain below potential”. While 20.9% of companies expect to increase the hours worked, only 14% expect to increase the number of staff, explained the UIA.
In addition, according to the III UIA Survey, It was observed that 23% of the surveyed companies reported that staffing increased in July compared to June, but 8% persisted, reducing the number of workers in the same period. Finally, even with the progress in vaccination campaigns, in July there was still a significant percentage of dispensed workers (8.5%).
In July, the labor market operated with a level of suspensions higher than the pre-pandemic, reaching a total of 8.9% of companies and 1.3% workers, according to data from the Survey of Labor Indicators of the Ministry of work.
The report concludes that Industrial employment is still quite far from the levels observed in previous years, standing at 12.5%, some 158,037 positions below the maximum registered in October 2013.
“Macroeconomic uncertainty continues to be one of the main challenges in the face of the sustained recovery of the industrial sector, investments and job creation. The application of incentives to new hires and normalization of the functioning of the labor market become fundamental for the recomposition of the long-term labor market, together with the increase in aggregate demand “, closed the UIA.
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