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Expenditure on electricity and gas is already the highest in 30 years

Expenditure on electricity and gas is already the highest in 30 years
Expenditure on electricity and gas is already the highest in 30 years

Houses in the Buenos Aires Metropolitan Area (AMBA) already use more than 6% of their income to pay electricity and gas rates, the highest number in the last 30 years according to reports from private consulting firms.

The main reason is the decline in salaries measured in dollars, which in the first half of 2024 were at the lowest value in the last 20 years. The average expenditure on electricity and natural gas of Level 1 users was 4.1% in March with respect to the RIPTE salary and in just 3 months it rose to 6.4%.

In the case of low-income users (Level 2) in the same period it went from 1.5% to 4.1%, while for middle-income users (Level 3) it increased from 1.5% to 4. 8%.

Negative outlook: Argentina is the country with the worst job creation expectations

With the deep recession that the country has been going through, the drop in consumption and the loss of purchasing power, which some say is beginning to recover, the concern of the different opinion polls focuses on the labor market, since Argentina is stagnant in job creation compared to other countries in the region.

The sharp drop in consumption, one of the reasons for the drop in inflation, caused activity to fall and the employment market is beginning to crack. According to the Employment Expectations Survey corresponding to the third quarter of 2024, companies adjust their supply to the level of demand, which is why hiring expectations have remained low for a year. This Concern increases about the growth of unemployment in the country in the second half of the year.

The survey carried out by ManpowerGroup, which brings together more than 700 employers Argentines, reveals that 36% plan to increase their staffing levels while 33% plan to decrease them. 28% of those surveyed do not expect to make changes and the remaining 3% do not know if they will make them during the surveyed period.

Source: Ambito

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