In the first quarter, 275,000 salary accounts were closed

In the first quarter, 275,000 salary accounts were closed

In the first quarter, almost 275,000 salary accounts in the financial system, a figure that represents between 2% and 3% of the total bank accounts intended for the accreditation of wages. The data corresponds to the Financial Entities report published by the Central Bank and coincides with the effect that caused the devaluation and recession.

The official data indicates that in March there were 274,311 salary accounts less who have received any income of money with respect to December 2023. The closure of salary accounts was replicated in both state and private banks.

The Central Bank statistics record each month how many salary accounts had accreditations, that is, They received money from employers.

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On the other hand, beyond that particularity, lThe number of salary accounts with movement had been registering an increase in the last months of last year, a situation that was completely reversed at the beginning of 2024.

The latest employment data

He registered employment fell in February in net terms by third consecutive month, losing 0.3% compared to January, According to the information provided by the Labor Indicators Survey (EIL) published this Thursday by the Ministry of Labor. Is about the biggest drop for that month since 2002.

Thus, between November 2023 and February 2024, the contraction reached 0.9%. In year-on-year terms, the level of registered salaried employment maintains an increase of 0.1%, practically stagnant.

According to the report, in February 2024 all branches of activity experienced contractionand it is the construction sector that presents the largest monthly drop in employment with 1.3% and accumulated 11.2% year-on-year. The rest of the sectors presented more moderate monthly declines and maintained year-on-year growth.

The decline in the level of private registered employment is also observed in the companies of all sizeswith variations that range from -0.2% to -0.4%. The The most affected are those between 50 and 199 people occupied with a drop in the number of personnel by 0.4%, which would be the MSMEs.

Both the dismissals and incorporations of personnel showed reduction in relation to the month of January 2024. The entry rate was especially affected: it showed a low level in relation to the months of February in previous years, only compatible with the months of February of the pandemic years (2020 and 2021).

“This behavior is common in contexts of decline in economic activity. The level of employment is adjusted mainly from the reduction of personnel additions and not so much because of the increase in separationswhether decided by people or by companies,” highlights the report.

Source: Ambito

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