Julio Cordero: “After the fall, employment and real wages began to grow”

The official from the Ministry of Human Capital also stated that The purchasing capacity of the average salary has grown significantly since December 2023, despite the fact that it is still below the level observed in November of last year -3%, according to official data.

Cordero maintains that the growth in formal private employment verified between last August and September, “It is fundamentally due to the change in the behavior of three very important sectors due to their impact on the total registered private salaried employment: construction, industry and commerce.”

Regarding construction and commerce, an increase in staffing was observed in August, while as of September the industry stopped reducing its employment level after eleven months of decline.

The official points out that “A relevant characteristic of the growth of formal private employment in September is that it is generalized in all qualifications of the occupational structure”. The ministry’s figures show that formal employment grew both in professional positions and in unskilled jobs.

Cordero also points out as important that “the growth of formal private employment in September is not driven only by fixed-term contracts and agency personnel, as could be expected in an initial phase of employment recovery like the current one, but rather “The number of staff hired for an indefinite period also increased”.

Salary purchasing power grows

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“The purchasing power of the average salary has grown significantly since December 2023, despite the fact that it is still below the level observed in November of last year,” Cordero asserts based on analyzing the data on the evolution of the purchasing power of the average salary of private registered salaried employment and the average of the remunerations agreed upon in collective labor agreements during the period between November 2023 and last September.

It should be noted that the last publication of the RIPTE (Average Taxable Remuneration of Stable Workers, that is, blank) corresponding to September, it exceeded the inflation index by 0.6% and registered an increase of 4.1%.

“These data represent the beginning of a phase of recovery of the level of formal private salaried employment, as a result of the macroeconomic stabilization process and the increase in the confidence of companies to hire personnel due to the promulgation of the labor section of the Basic Law. and starting point for the freedom of Argentines”assures the secretary.

Dialogue with unions

Another issue in the labor portfolio is the call for dialogue with the unions through the Tripartite Table, which has not met for weeks. The interruption of these meetings was due to the union sector. “They themselves asked for the tripartite table the last time they sat down, which seemed to me to be a very good attitude from the dialogue unions,” explains Cordero. “We are waiting for them to contact us,” he completes.

Asked about the relationship with the unionsmaintained that ““I see them in a much more constructive position.”. He adds that “more and more unions are finding a Government that really fulfills the promises it is making, they are finding an economy that is stabilizing, they are finding a fiscal balance that is really maintained and that is a very strong possibility for production.” , he concludes.