SIPA data indicated a deepening of job insecurity in the sixth month of the year. Since August 2023, more than 200,000 salaried jobs have been lost.
In June, job insecurity deepened While the number of salaried workers in the private sector fell for the tenth consecutive month, the increase in the number of self-employed workers accelerated. The Government welcomed the data for the sixth month of the year because, in aggregate terms, employment registered its second consecutive improvement.
According to data from the Argentine Integrated Pension System (SIPA) According to the data published on Monday by the Ministry of Labor, total registered employment increased by 0.1% in June, the same as in May. The positive variation was explained almost exclusively by the Incorporation of more than 40,000 independent workers with a flat taxaccording to the SIPA seasonally adjusted series.
That increase more than offset the 12,600 formal salaried jobs in the private sector have been cutMeanwhile, public employment remained virtually unchanged compared to the previous month, and employment in private homes grew, something that had not happened since September.
Thus, During the first seven months of Javier Milei’s Government, 182,500 salaried jobs were lost (sum of private, public and home employees), while the contraction is 204,100 if the last peak in August is taken into account from last year.
Contrary to this trend, The number of self-employed workers exceeded that of November 2023 by 164,500 and that of August of the same year by 191,000Since Milei’s arrival at Casa Rosada, a reduction in this segment was seen in March alone.
Likewise, the self-employed workers and the social self-employed workers were the ones that showed the largest monthly falls in percentage terms during June. In the cumulative total for the Milei era, in the first case an increase is foreseen while in the second the number is negative.
These data reflect a deterioration of the labor market: While jobs are being lost in the segment with greater stability and security, the number of jobs in more flexible forms of employment is increasing.
Wages
On the other hand, the Ministry of Labor reported that Formal wages in the private sector increased by 3.9% in real terms in Junethus being the third consecutive increase above inflation.
Therefore, the income of this segment of workers, perhaps the most “privileged” in the entire economy,” were 2.2% below November.
Source: Ambito
