For its part, the income of informal workers rose 40.5%. However, it is worth noting that in this segment the data has a considerable lag.
In December, wages slowed down and rose 2.6% monthly, below the price increases that jumped 3.8% compared to November. according to data from INDEC itself. Within the formal sector, workers in the private sector received a rise of just 1.4%, while those in the private sector had an average rise of 2.7%.
Official sources explained that this poor performance was fundamentally due to the fact that in the last month of the year fewer increases corresponding to joint quotas were applied than in the previous month.
Higher were the increases in the unregistered sector (+5.8%), although they have little impact on the Salary Index of the official body of public statistics.
In the last year, most of the main unions, such as Health, the UOM, Oil, Food or Truckers, managed to close parities above price increases.
Despite the improvement in 2021, the director of the Argentine Institute of Fiscal Analysis (IARAF), Nadin Argañaraz, highlighted that the salaries of registered employees lost the equivalent of almost 6 salaries compared to 2017 and that public employees lost 7.5 salaries. Likewise, informal workers suffered a setback equivalent to more than 10 wages.
“Persistent inflation eroded purchasing power and, given that it continues at high levels, it continues to do so. The sustained drop in the inflation rate is one of the main challenges for Argentine society, since the losses caused by this phenomenon put in a situation of high vulnerability to many sectors of the population,” said the economist.
Measured in dollars, different specialists, such as the IDESA consultancy, pointed out that the salary is at 2003 levels and about 70% below the 2017 level, the peak of recent years.
Source: Ambito
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