The income of all wage earning sectors They lost up to $1.8 million in front of the inflation during the Government of Javier Mileiaccording to a study by the Latin American Strategic Center for Geopolitics (CELAG).
He Consumer Price Index (CPI) Between December and July – the period of Milei’s administration – it reached 134.65%according to the economist Federico Glustein. By August it is estimated that the inflation can be located around the 3.8%although some measurements estimated it to be above 4%, according to the survey of Scope.
In this context, the most affected income was that corresponding to the minimum wage, which between November and August accumulated a loss of $676,194, he equivalent to 2.6 current SMVMas reported by the CELAG. While the “stable workers”based on the RIPTEaccumulate a fall of $755,840 between December and June, the equivalent of 0.81 current remunerations.
According to the Salary Index In June, wages continued to behave unevenly. “The registered private sector increased by 1.5%, 6.7% and beat him 4.6% of the CPI. It is still almost 5% below November 23. The public sector rose much less (3.9%) and consolidates the fall of almost 20% in real terms,” explained the researcher of the Institute of Studies and Training of the CTA-Autónoma, Luis Campos.
For their part, the informal workers, until June (taking into account the last one) Permanent Household Survey-EPC) have been lost for a few $500,817equivalent to 1.6 monthly income current in this sector. Meanwhile, the public employees accumulate a loss of $1,076,464 between November and Augusthe equivalent to 1.14 current salaries.
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Recession and unemployment effects: more than 265,000 jobs have already been lost
Between November 2023 and May 2024, 265,308 formal jobs were destroyed due to the effect of the recession that the Argentine economy is going through, according to a report by the Center for Political Economy of Argentina (CEPA). Besides, The number of employers was reduced by almost 10,000 cases.
The report of STRAIN It is based on data from the Superintendence of Occupational Risks (SRT). If we analyse the reduction in employer cases, we can see that the main affected companies, in these first six months of Milei’s administration, are companies with up to 500 employees: 99.5% of the total cases (9,927 fewer companies). On the other hand, the number of employers with more than 500 employees accounts for only 0.5% (45 cases).
Public employment: almost 31,000 fewer jobs in the nation and state-owned companies
Public workers, in addition to suffering a strong loss of purchasing power equivalent to 1.14 current salaries, were also the hardest hit by the unemployment. Inside the national public administration and companies and societies A reduction was observed in 30.936 positionsequivalent to 9.1% of the base allocation at the end of last yearaccording to the economist’s calculations Nadin Arganarazbased on data from the National Institute of Statistics and Census (INDEC). The central administration, the Official Post Office, ANSES, CONICET and AYSA lead the declines.
From the point of view of the intensity of the reduction in the December 2023 allocation, the largest falls are concentrated in National Council for the Coordination of Social Policies (-58.5%), National Institute of Associations and Social Economy (-30.3%), National Institute of Film and Audiovisual Arts (-29.7%), National Disability Agency (-28.2%), National Communications Agency (-26.6%) and Official Post Office of the Argentine Republic (-24.2%).
Source: Ambito
