While the salary recovers very heterogeneously, employment is stagnant and far from recovering the lost.
The labor market has been presenting ambiguous faces in recent months. While the real salary shows a significant recovery in the registered private sectorthe same does not happen in the public sector and in the informal segment, while The employment rebound stagnated and far from recovering everything lost.
According to data from Argentine Integrated System (SIPA), The salary of the private ones accumulated in November eight consecutive months with increases above inflation. Thus, 3.3% above the level of November 2023 was locatedprior to the assumption of Javier Milei as president.
From the Government they stressed that the salaries of these workers, who are those with greater stability and amount of rights, touched maximum of five years. Even so, it is worth clarifying thatn historical terms is maintained 10% below the 2017 levellast maximum of the SIPA series.
In addition, according to the latest INDEC data In the state, November wages were 14% below of the pre Milei level.
The economy stopped recovering jobs
Regarding registered employment, In November there was a loss of labor sources for the second consecutive monthexplained by what happened in the public sector and with the employees of private houses. While there was an improvement in the private ones, it slowed down for the second period to the thread.
After losing 176,587 jobs between September 2023 and July 2024, between July and November, 19,253 jobs were barely recovered. “In December, the first indicators on employment account for a stagnation continuity. The Labor Indicators Survey (EIL) registered a 0.2% droppartly due to seasonal factors (construction and education). Without these sectors, the stagnation is the rule, “said the researcher at the Institute for Studies and Training of the CTA – Autonomous, Luis Campos.
“In the face of what the Government is trusting that the recovery of employment is always slow in the first months of the expansive phases. The hours worked and not the number of workers would be growing. If this dynamic is prolonged, employment goes to Growing. We touched flat in July and since then the increase is marginal and a decreasing speed. For now there is no sector that tracciones, “he said.
Source: Ambito
