The RIPTE presented a real improvement of 0.4%, but in the first 12 months of the Milei era it lost against inflation.
The salary indicator that the Government usually uses to show recomposition in the income of Argentines recorded its third consecutive improvement in real terms during November 2024. Even so, In the first 12 months of the Milei era it lost against inflation.
The Taxable Remuneration of Stable Workers (RIPTE), published by the Ministry of Labor, had a nominal increase of 2.8% in the 11th month of the year that just ended, which was equivalent to a actual improvement of 0.4%. In October, real growth of 3.8% had been verified, adding to the 0.6% in September.
However, if the comparison is made against November 2023prior to the arrival of the libertarians to Casa Rosada, the number shows a negative real variation of 0.9%. This was a consequence, fundamentally, of the collapse of almost 20% that was seen between December and February.
The RIPTE generates controversies due to its methodology
It is worth clarifying that the RIPTE It does not measure, in the way that other indicators such as the Argentine Integrated Pension System (SIPA) do, specific salaries. but the basis considered for social security contributions, which today have a ceiling that is updated every three months.
Consequently, several economists point out that It is influenced more by retirement mobility and cap adjustments than by wage dynamics.. Therefore, in months in which this limit is set, the RIPTE tends to show limited variations, and vice versa.
On its own website, the Ministry of Labor explains that the RIPTE “is a pension indicator that does not necessarily reflect the behavior of salaries corresponding to registered salaried employment,” given that it only includes:
- The remunerations of the newest jobs (since it is based on the income of workers who are under a dependency relationship and who have been declared continuously during the last 13 months).
- The non-remunerative components of the salary.
- The surplus between salaries and the maximum salary amount defined for personal contributions to the social security system.
Source: Ambito
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