The increase will be divided into two parts: in September salaries there will be an increase of 4.25%, while the remaining 3.75% in October.
The Argentine Federation of Commerce and Services Employees (FAECYS)the Argentine Chamber of Commerce (CAC), the Confederation of Medium Enterprises (CAME) and the Union of Commercial Entities (Udeca)they closed a joint agreement that provides increases for September and October and, in this way, the basic salary for workers in the sector will climb to 926 thousand pesoswith presentism.
In total, the increase will be 8% divided into two parts: the first, 4.25% will arrive with September salaries, while the remaining 3.75% will be given in October.
After reaching an agreement, Armando Cavalierisecretary general of FAECYS, highlighted: “This agreement It is an important step to ensure the purchasing power of our workers in a complex economic context. We monitor the economic situation so that salaries can follow price increasesand that they are not overwhelmed by inflation.”
And he added: “We continue to observe the labor market dynamics and we see with worry the increase in unemployment is beginning to be reflected in the different employment indicators”.
The salary agreement signed today corresponds to the joint trade of this year, which runs from March 2024 to April 2025.
Source: Ambito
