It was between November 2023 and October 2024. During October, in the month-over-month comparison, it also registered a decrease (-1.3).
The purchasing power of minimum, vital and mobile wage (SMVM) showed a new deterioration during the month of October, as it contracted 1.3%. But if you consider it from November 2023 to October 2024, The real minimum wage accumulated a drop of 28%.
The Report “Panorama of formal salaried employment and remuneration” It is an elaboration of MAYOR that publishes the UBA.
“This evolution is the continuation of a more extensive process of decline in the real value of the SMVM that had begun in December 2023, when it contracted 15% hand in hand with inflationary accelerationfollowed by an even greater drop, of 17%, in January of this year,” they explained.
This trend was momentarily interrupted in the following months, a period during which the nominal increase accompanied inflation “for which no additional reductions were observed,” they explained. In June there was a new drop (-4.4%), followed by some recovery in July (+4.3%) and by consecutive reductions in the following three months.
Therefore, it concludes that the previous decreasing trend, together with the strong contraction of these months, placed the minimum wage in real terms at a lower value than in 2001, before the collapse of convertibility. Likewise, it implies an erosion of almost 60% with respect to the maximum value of the series, in September 2011.
Source: Ambito
