For 33 consecutive months there was a growth in registered youth employment between 18 and 24 years old. This diagnosis appears after last July this group exceeded the 857,760 formal jobsas published by Secretary of Industry. The data appeared from the Center for Production Studies (CEP XXI).
These figures constitute the level of employment “highest in more than five years”according to the report released by the CEP XXI that depends on the Secretary of Industryled by José de Mendiguren.
Compared to the pre-pandemic period, in December 2019, youth employment had an increase of 13.6% in July of this year, generating more than 103,350 additional jobs for this demographic.
“If there is an objective that we set for ourselves from the first day of the administration, it was to maintain the level of activity and, in particular, defend jobs, because we understand that Argentina can go through temporary problems but only by guaranteeing employment for all. We can start to build a true exit with development and inclusion”, De Mendiguren said.
“It is the result of the sustained pace of economic activity”
For his part, the vice president of Argentine Development Bank (BICE), Raúl Sánchezthrough a post on the social network X (formerly Twitter) that this growth in youth employment “is the result of the sustained pace of economic activity.” He also vindicated the national business community, adding that it is also the result “of the promotion of the national industry that generates decent work”.
Regarding the private sector, the data reveal that in July of this year the formal employment of young people grew 1.1% compared to the previous monthsurpassing the 700,800 positions of work.
In year-on-year terms, private youth employment register an increase of 12% (more of 75,640 additional positions in a year), which implies annual fees of growth that “had not been verified since 2011-2012” and that triple the growth rate of total private employment in the economy, which in July was 3.3% year-on-year.
Industry and commerce, the best positioned sectors
The industry was the sector with elderly contributionwith an increase in 43.5% for the same period (40,282 additional positions), and their contribution “is particularly important since the real salary for young people is 25% higher in this sector compared to its average in the rest of the economy,” according to the report.
In general terms for the private sector, Commerce is the area that more youth employment recorded with the 22% of the total, followed by industry (19%), accommodation and gastronomy (12%) and administrative services (10%).
The level of employment last August is 7% above of the value of February 2020 (418,000 more people) and 2% above the level of December 2017 (126,000 more people), according to the work of the Undersecretary of Programming, Studies and Statistics of the labor portfolio.
The population with registered work in the country reached 13.36 million of people in August, thus presenting a increase of 0.3% (35.6 thousand people) in relation to July; and 4.1% (+528.7 thousand workers) compared to the same month in 2022.
Source: Ambito
