In May, the wage employment private formal employment fell by 1.9% (125,000 jobs) compared to November 2023. Chubut, Cordoba, Jujuy, La Rioja, Neuquen and Salta were the provinces that maintained or increased private employment in April and May. If we focus only on the month of May, only Neuquen, Salta and Tucuman had year-on-year growth.
According to the report, in the government of Javier Milei The number of jobs fell by 1.9% (125,000 jobs), according to this analysis, considering salaried employment registered in the private sector between November 2023 and May 2024 without seasonality.
This is reflected in the “Employment Monitor” prepared by economist Nadín Argañaraz. From this point, it is added that the provinces that show a positive variation are Salta, Chubut, Neuquen, Mendoza and Tucumanwhile the ones with the worst relative performance are La Rioja, Tierra del Fuego and Formosa.
The situation of formal employment in the country
The number of registered workers fell by 0.1% year-on-year (-9.8 thousand jobs) in May and the growth compared to May 2021 was 9.6% (1,156.8 thousand jobs). Considering by main modality, the greatest growth in the last year took place in the Monotributo (7.0%), followed by Public Employees (0.1%), Social Monotributo (0.1%), Self-Employed (-1.3%),
Private employees (-2.0%) and Household employees (-4.6%). Considering the last three years (May 2021 to May 2024), it can be seen that the Social Monotributo (63.1%), Monotributo (24.3%), Private employees (6.0%), Public employees (5.2%), Self-employed (5.2%) and Household employees (-6.3%) have grown.
The situation of private salaried employment in the provinces
In May 2024 Three provinces showed year-on-year growth in registered private sector wage employment. As described in the previous section, private wage employment as a whole fell by 2.0% year-on-year.
Neuquén, Salta and Tucumán were the cities that had year-on-year growth. At the other end, Formosa recorded a drop of 18.1%.
“There was an average fall in total registered private salaried employment of 0.9%. Neuquén, Salta and Catamarca make up the group of three jurisdictions with the greatest increase, with rises of 4.6%, 3.7% and 0.4%, respectively. Santiago del Estero, Tierra del Fuego and Formosa are the three jurisdictions with the worst performance,” explained the economist.
Only C jurisdictionshubut, Cordoba, Jujuy, La Rioja, Neuquen and Salta For two consecutive months (April and May) there has been a monthly increase or maintenance in private employment.
Econviews agrees with this analysis and adds that in the case of Neuquén and Salta, employment has grown by 25.8% and 10.4% respectively in the last five years due to the growth of investments linked to oil, gas and mining (copper, lithium and gold).
Catamarca For its part, it had a growth of 18.4% in the last 5 years due to investments in the mining industry, But unlike the other two provinces mentioned, it lost 5.3% of salaried workers since October.
Source: Ambito
