“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.
In the same vein, a report by the consulting firm IDESA highlighted that Salary, measured in CCL dollars, closed 2021 at 2003 levels, and almost 70% below the peak of recent years, reached in 2017.
The same analysis had been carried out about 20 days ago by analyst Nery Persichini. The finance specialist had remarked that the salary at the end of last year was equivalent to 26% of the convertibility maximum, 43% of the value prior to the 2001 crisis and 32% of the maximum verified in the government of Cristina Fernández de Kirchner .
In 2021 wages rose 1.6% in real terms. The most benefited were public sector workers (+5.1%), followed by formal employees in the private sector (+2.9%). For their part, although informal workers reduced their loss of purchasing power, they suffered a new significant drop of 6.9% in their income.
A report by the consulting firm Synopsis pointed out that the large unions were able to close parities above inflation. The main winners were Health, the Metallurgical Workers’ Union, Oil, Food and Truckers 8.3%.
On the contrary, the gastronomy unions, the Construction Workers’ Union (UOCRA), the state unions grouped in UPCN, and the Automotive Tramway Union (UTA) closed down.
The Center for Production Studies (CEP) reflected last month that the sectors of the Argentine economy that pay the best salaries are:
- Oil and gas extraction ($258,087 median salary)
- Metal mining ($250,178)
- Oil and mining support services ($209,937)
- Banks ($187,484)
- Oil refining ($176,391)
- Extraterritorial organizations, mostly embassies ($171,950)
- Naval transportation ($164,845)
- Electricity and gas supply ($159,705)
- Air freight ($159,326)
- Pharmaceutical industry ($152,737)
Source: Ambito
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