He real salary recorded a year-on-year increase of 4.6%the highest figure in the last 12 months, according to the Average Salary Index (IMS) that prepares the INEwhich established a nominal improvement of 8.9% since August of last year.
This way, the increase in real wages is 1% above the same month in 2019that is, in the pre-pandemic, for which the decrease in inflationwhich was at its lowest level in the last 18 years.
According to the IMS, the monthly increase in salary without taking into account the CPI was 0.36%, while it has accumulated 8.29% so far this year, reaching a general index of 445.02.
From the report of INE found that the private sector was the one that grew the most, with a monthly variation of 0.54%, mainly due to the incidence of the Manufacturing Industry section (0.20%), Wholesale and retail trade (0.12%) and Transportation, storage and communications (0.04% ). On a year-on-year basis, the improvement is 9.89%.
Inflation as the protagonist of the adjustment
In this framework, another report prepared by the Human Resources consulting firm, Adeccoconcludes that “inflation continues to be the protagonist of salary adjustments“.
The document points against the Economic budget for 2023, which was projected at the beginning of the year an inflation of 60% and while that number was off axis, “It was a strategy to stop joint negotiations“during the first three months of the year, which mark the change in adjustments for both the agreement and for non-agreement personnel.
After a first seven months of upheaval in 2023 and the rise of the dollar after the PASOgive a projected annual CPI between 180% to 200%, recalls the firm’s report.
According to the survey, About 35% of the companies that were surveyed maintain that they made a salary adjustment outside the agreement on a quarterly basis. This configures “a growth in the monthly, bimonthly and quarterly adjustment, and a decrease in the quarterly and semiannual increase.”
Thus, the increases for next year are projected higher than those of 2023. This speaks, among other things, of great uncertainty about the economic and political situation, especially considering that there is no panorama clear about who will win the October elections, with its consequent uncertainty about the economic plan,” the report maintains. Several of the most relevant unions in the country have been joining this demand. Banking, Trucking, Commerce and UOCRA are some of those who have already begun to ask for adjustments and fixed sums.
Adecco remember that although the increases in non-conventional personnel have another dynamic of adjustment, companies “take joint ventures as a relevant reference indicator” and adds: “Of the participating companies, almost 52% have planned an annual adjustment for those outside the agreement, which ranges between 91% and 154%, with an average of 90.4%,” he said.
In this way, 70% of the companies participating in the Salary Guide of this firm specialized in human resources will continue to hire collaborators in the remainder of 2023 and during the next year. “51.7% of the positions to be filled mentioned have to do with productive areas. The rest are corporate roles,” he concluded.
The 2023/2024 Salary Guide was prepared by Adecco at the end of August, based on a survey of salary informationin companies with different profiles in terms of origin of capital, billing, sector and geographic location. The objective is to provide updated data on the Argentine marketor, that serve as a reference for companies, both in terms of salaries and more relevant benefits.
Source: Ambito
