This is the index Ripteprepared by the labor portfolio and which measures the variation of the “stable” income of the economy, that is, those employees who have had continuity in their job in the last 13 months. In March the indicator showed a variation of 14% for this segment of the labor market, against an inflation that was eleven% in that same month.
This would imply an improvement in the purchasing power of these salaries of slightly less than 3%, although zooming out a bit shows a still marked drop in income.
Salaries: what information did the RIPTE leave us
In March the indicator showed a variation of 14% for this segment of the labor market, against an inflation that was 11% in that same month. According to market estimates, the distance between the CPI accumulated since December and salaries measured by Ripte is 17% cut in purchasing power.
In December that wage index had resulted in a very pronounced loss: 8.3% of nominal improvement in income against a 25.5% of inflation. In January salaries increased 14.7% against 20.6% of CPI; and in February the numbers were 11.5% and 13.2%, respectively. The Ripte index, in any case, is one of the ways that the State has of measuring salary variation and some economists consider that, in contexts of marked price volatility such as recent months, it may be an unrepresentative indicator.
On the other hand, it is worth making a reservation that the Ministry of Labor itself is responsible for clarifying by stating that this indicator “does not necessarily reflect the evolution of salaries in private registered employment.” “This indicator was developed as an input to determine retirement mobility (one of the two salary indicators used by the mobility index) but does not necessarily reflect the behavior of salaries corresponding to registered salaried employment in the private sector,” they clarified.
Salaries: what data did the INDEC give
With these clarifications, the most updated data from the Indec salary index, which goes up to February, showed last week that public sector employees increased on average 15.1%with what they surpassed by 1.9 points percentages to inflation. Workers in the registered private sector, for their part, had an average salary increase of 14.1%. The nominal increase measured for the informal workers was only 5.7%.
Source: Ambito
