Registered work grows. Between December 2019 and June 2023, more than 1.1 million people entered formal work.
This phase represents the longest period of employment growth in the last 14 years.
In June and July this year, both salaried work private registered as the total of the registered They maintain an expansive trend in Argentina. In the sixth month of 2023, 35 months of consecutive employment growth registered salaried employee in the private sector and, throughout this period, more than 586,000 people to jobs private registered employees.
The total work registered in the social security system also shows a significant expansion. Between December 2019 and June 2023, more than one 1.1 million of people joined formal work, accounting for all its modalities.
Inflation and employment
Finally, the last aspect to highlight is that, despite inflationary accelerationthe purchasing power of private registered employment wages remained constant (even the median wage showed a slight growth of 0.5%).
This is reflected in the data from the Argentine Integrated Pension System (SIPA).which indicate that formal salaried employment in the private sector in Argentina grew by 0.3% in June 2023 compared to the previous month. This increase translated into the incorporation of 17,000 people into the labor market.
In the first half of 2023, Formal salaried employment in the private sector in Argentina grew by 1.6%which represents the inclusion of around 100,000 people in registered salaried jobs in the private sector.
With the expansion verified in June, Formal salaried employment in Argentina’s private sector accumulates 35 months of sustained growthcomputed since August 2020. Throughout this period, more than 586,000 people have joined.
This phase represents the longest period of employment growth in the last 14 years. Likewise, in June, formal salaried employment in Argentina’s private sector reached its highest level since the statistical series began in 2009.
Source: Ambito
