In the midst of a stagnant economy, formal employment numbers are falling and workers in various sectors are looking for other alternatives.
According to what was reported by the National Institute of Statistics and Censuses (INDEC), self-employment prevailed due to the decline in formal employment. Hand in hand comes the increase in informal workers, who seek to manage economically in the midst of an economic and occupational crisis.
According to the data, during the second quarter of 2024, 160,356 formal salaried jobs were lost compared to a year ago. In contrast, 154,579 unregistered positions were generated, 113,432 self-employed and 13,461 in the public sector.
Low wages drive the search for higher-paying jobs, and at the same time fuel unemployment numbers. These reasons, added to the ”Plan Chainsaw” promoted by Javier Milei, favor greater and greater autonomy in terms of employment. In any case, the accumulation of the last eight years also has an influence, since in the private sector self-employed and unregistered workers grew by 20%.
Furthermore, according to the most recent report of the Labor Indicators Survey published by the Ministry of Labor, The level of private employment registered in companies with more than 10 employed people fell 0.1% in August compared to the previous month.
The lowest deciles recovered, but the highest deciles fell
The data for the first two quarters of the year show falls in the deciles, when compared with the respective period but in 2023. In Q1, the fall in the first three deciles was 8 times deeper than the contraction suffered by the decile of households with higher incomes; while in the second there was not so much difference.
In addition, the real income of the lowest deciles showed a slight sign of recovery, in contrast to the highest ones, which decreased.
In this way, the average fall of all deciles remained at 12%since there was a compensation between the recovery of the former and the fall of the latter, where in the first quarter a -17% was reflected in the first four deciles; while in the last two they went from a 3% drop to a cumulative 9% in the second quarter.
Source: Ambito
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