The numbers come from what was analyzed by the Employment and Business Dynamics Observatory, based on the Argentine Integrated Pension System (SIPA).
“The industry continues to grow and this growth is accompanied by the creation of quality jobs. 34 months of expansion show that this is not a coincidence or the result of a rebound, but rather the effect of concrete policies to make the industry grow and continue to be the engine of the country’s development”, stated the Secretary of Industry and Productive Development of the Nation, Jose Ignacio de Mendiguren.
And he added: “It is important that we keep these data in mind because they tell us about a real economy, about an engine that does not stop. We know that we have to improve the purchasing power of wages and that inflation is what worries us the most, but it is important that employment be maintained in this context.
“Even in a difficult situation, companies bet on the country, and they do so because they know that the team led by Sergio Massa accompanies them with investments and clear policies,” complete.
Industrial employment data
Formal private employment in the industry increased by 3.8% in March of this year compared to the same month in 2022 and 0.1% in relation to February of this year.
Thus, it accumulates 20 months of uninterrupted growth within the framework of 34 months of expansion (without seasonality), the longest period since at least 2009 (beginning of the series).
According to these data, there are more than 1,190,480 people with industrial employment, the highest level in more than four years (without seasonality). If compared to the pre-pandemic (December 2019), 97,860 formal private jobs were created in the sector, an increase of 9%.
The industrial data is given within the framework of generalized growth in private registered employment, which in March 2023 exceeded 6,381,600 formal wage earners and presented the highest level of private formal employment for at least the last 14 years.
In year-on-year terms, registered employment in the private sector grew by 4.1% in March 2023. In contrast to February of this year, the rise was 0.3%, that is, more than 19,000 new jobs were created in one month.
With this growth, the economy accumulates 32 consecutive months of private formal job creation, which represents approximately 324,100 new jobs since the pre-pandemic (December 2019).
The dynamics of employment growth has been such that from May 2022 to March 2023, year-on-year employment growth rates have been recorded above 4%, something that has not been observed since 2011.