The monthly estimator data of the February Economic Activity (EMAE) showed, for ninth consecutive month, a growth of the economy. The evolution is heterogeneous: the industry, for example, still drags the layer of 2024. An indicator that worries the sector is employment: In a year, 70% of industrial subriers reduced registered jobs.
The information arises from the productive mission organization and indicates that 30,657 jobs were lost During the first year of President Javier Milei’s mandate. Of a total of 265 manufacturing industry sub -banks, 184 they reduced their number of jobs recorded between November 2023 and November 2024.
Among the sectors that record the greatest absolute contractions are the automotive complex, whose branch Manufacture of motor vehicles suffered a fall from 2,096 jobs, product of the lower activity of automotive terminals. Then follow them Manufacture of parts, parts and accessories for motor vehicles and their engineswhich corresponds to the auto -party segment, with 2,050 Losses of registered jobs.
Of the three branches with the greatest impact in relative terms, two belong to the textile-indumery industry: Manufacture of sports footwear (-33%) and Manufacture of textile yarn, except wool and cotton (-25%). For its part, MANUFACTURE OF ELECTRONIC COMPONENTS It was the second branch with the highest percentage drop (-26%).
The report includes the branches of The manufacturing industry with at least 1,000 positions As of November 2023 and the data emerges from the statistical series of the covered working population, published monthly by the Superintendence of Labor Risks of the Ministry of Human Capital of the Nation.
According to productive mission economists, this registered industrial employment drop in an “deep and extended contraction”In the manufacturing sector, affecting a large majority of its branches.
The reasons that explain the fall in employment in the sector
The contraction of the industry in 2024 responded, in the first place, to the fall of domestic consumption, product of the loss of purchasing power, especially during the first months of the year. In turn, The specialists add up to the impact of strategic sectors paralysissuch as construction, which usually energize related industrial branches, such as construction materials.
Finally, The disarmament of public policies oriented to productive development —As credit lines for SMEs, sectoral incentives and technological support tools – is highlighted by productive mission as a factor that “aggravated an already unfavorable context”, although it did not constitute the determining factor of the crisis. “Understand these trends It is essential to evaluate the current state of the industry and the challenges it faces The Argentine productive system in the short and medium term, ”they say in their latest publication.
Image.jpeg
Likewise, economic activity in its entirety does not follow the same path as the industrial. According to INDEC data, the February EMAE registered a rise of 0.7% monthly and 5.7% year -on -year. Where is the industrial sector located in this context?
According to Paloma Veronaproductive mission economist, all the numbers linked to the industry “show that it has been one of the most affected sectors of the Milei government.”
“This is seen so much in employment number, companies, industrial activity. Unlike the rest of the activity sectors that managed to recover after the strong fall of the first stage of Milei, The industry is still below the records of November 2023”Says Verona.
“What worries most is the destruction of employment. In addition to this, there are many signs of the Milei government that there is an anti-industrial vision with little concern to sustain productive capacities and advancing in a economic openness without compensation and in an exchange rate appreciation scheme that complicates competitiveness”, Concludes the member of productive mission.
Source: Ambito
