An UBA report showed that the purchasing power of the minimum wage is below the level of 2001 and 62% behind the maximum of 2011.
The minimum wage fell for the third consecutive month in April, in real terms, and in the Milei era it already accumulated a loss of 32% purchasing power. In this way, it remained below the level of 2001, prior to the outbreak of convertibility.
This was reflected by the Interdisciplinary Institute of Political Economics (IIEP) from the University of Buenos Aires (UBA), through a report coordinated by economists Roxana Maurizio and Luis Beccaria. The work remarked that in the fourth month of the year the minimum wage remained a 62% below the maximum value of the series, in September 2011.
According to the IIEP, the minimum, vital and mobile salary showed a Real setback in April of 0.8%after a decline of 2.1% in March and a decrease of 0.4% in February. Previously, in December and January he had shown dimons improvements.
“The extensive process of declining the real value of the salary began in December 2023when it contracted 15% of the hand of inflationary acceleration, followed by an even greater fall, of 17%, in January 2024. This trend was momentarily interrupted in the following months, period during which the nominal increase accompanied inflation, “the report said.
Workers’ salaries interrupted their rebound
In recent months Workers’ salaries interrupted the rebound they had been showing since the end of 2024. According to the data of the Argentine Integrated Pension System (SIPA), which is the source that the best numbers has been throwing, in February the real wages of the employees registered in the private sector barely improved 0.3%, thus accumulating four consecutive months of deceleration in the rebound and showing a virtual stagnation.
While this indicator is 4.6% above the level of November 2023, there is still 9.3% behind the last maximum, noted in 2017.
For their part, INDEC data shows that formal wages in the private sector were located in March 0.9% below the pre Milei figure, while the entry of state employees collapsed 15.1% in that period.
Source: Ambito
