He trade unionthe largest in Argentina, closed a parity of 47 percent for the last quarter of the year, at a rate of 16% monthly, well above inflation.
The expected cost of living for October is around 10%, according to private consultants.
Thus, The agreement of such a powerful union could put pressure on inflation at a key moment in the electoral campaign.
The Argentine Federation of Commerce and Services Employees (FAECYS) and the Argentine Chamber of Commerce (CAC), the Confederation of Medium Enterprises (CAME) and the Union of Commercial Entities (Udeca) signed today a quarterly joint agreement (October-December 2023) with an increase of 47% (20% in October, 13.3% in November and 13.3% in December).
Commercial employees: What is the new basic salary?
In this way, the basic salary reaches the floor of $397,400 plus additional amounts. Likewise, it was agreed to hold a new meeting in December.
In this regard, Armando Cavalieri, general secretary of FAECYS, highlighted: “These quarterly agreements allow us to be more in tune with the increase in prices, and in this way, we contribute to strengthening the purchasing power of Commerce employees, guaranteeing their economic well-being in an environment marked by fluctuating costs and the constant evolution of the economy.
The salary agreement, which was signed at the Ministry of Labor, Employment and Social Security, corresponds to the joint agreement of Commerce, which runs from April 2023 to March 2024.
“It is important to highlight the work and participation of all sectors, employers, the Ministry of Labor and workers, and that, despite the complexity of the context, we maintain a constant dialogue,” said Cavalieri.
Source: Ambito
