Rising inflation is pushing even those who are already in work to increase their income. The worsening of the economic crisis and the jump in prices, together with a fragile labor market are decisive for busy workers to try generate more income in their homes.
In Argentina there are, according to the Permanent Survey on Families (EPH), 9.4 million employees. Of that group, 3.1 million work between 35 and 45 hours a week (what is considered “full employment”). Even among these “full-time” one in ten looks for another job, according to a study by the Institute of Economic Research (IIE) of the Córdoba Stock Exchange. This is 13.1% of fully employed persons.
For a more detailed analysis, the study divided the employed population into four social classes based on income level: low class (does not reach the total CBT basket), medium-low class (reaches up to 1.5 times the CBT ), medium (up to 1.5 times the CBT), medium (up to 4 times the CBT), and high (more than 4 times the CBT).
For this work, self-employed workers and employees who declare a single paid occupation were considered as a single category, for a total of 3.1 million in Argentina. Of that global, they are 410,000 are actively looking for another job and are called “busy applicants”.
Of these 410,000, 20.2% belong to the lower class; 21.8% medium-low; 53.3% belong to the middle stratum and 4.6% to the highest income level.
The data reveals it the middle-low social strata are the most affected by the decline in purchasing power, due to high levels of inflation. These same segments are the most affected by the informality of work that is out there 37% in the country. Those who are outside the formalities generally experience a greater loss of purchasing power.
A fact to consider, they explain to the Córdoba Stock Exchange, “is How much do employed candidates represent from each of the social segments? on the total number of employees in each layer”.
“13.1% of fully employed people look for another job. Disaggregated, the data shows that the highest value is among the most vulnerable, where a quarter of the lower class and a third of the lower middle class seek other employment.
For the middle and upper class the values are respectively 10.7% and 4%. In summary, the most vulnerable segments are those who seek another occupation, job or activity most intensely. It is in these strata that the greatest “dissatisfaction” with the current position is manifested, whether due to income or some other factor.
A further analysis of the IIE covers the entire universe of employed persons, regardless of the number of hours worked. It should be remembered that the EPH considers anyone who works one hour or more in the reference week of the survey to be “employed”. The following paragraphs include all employed persons, including full-time workers considered in the previous section, plus those with less than 35 hours of work per week (underemployed) and those reporting more than 45 hours (overemployed).
With the magnifying glass on this enlarged reality, the most significant changes are: 49.8% of those employed looking for other employment belong to the lower class and 37.1% are average. to the previous analysis and, according to the IIE, could be explained by the higher levels of underemployment and informality.
“Of the total employed – without considering the number of hours worked per week – one out of five (19.7%) is looking for another job. These are “busy jobs”. As already noted, as social class rises, the proportion seeking further employment shrinks”, report finished.
Source: Clarin
