Porteños with employment have reached a new recordbut with lower quality jobs, more precariousness and more informality.
Is that according to data from the Department of Statistics and Censuses of Buenos Aires for the first quarter of this year, the number of wage earners has decreased among the employed, who in turn work to a greater extent in the informal sector, which is also a record for the first quarter series. And there are more self-employed workers or “billers” at unprecedented levels.
The management report of Buenos Aires shows that:
• The employed population residing in the City of Buenos Aires amounts to 1,590,500 people. Represents an occupancy rate of 59.3% “and becomes the highest in the series”, … “Over the past year the relative year-over-year increase is 2.4% and they entered the occupation 37,000 people”.
• By type of work, “72.8% work on a wage basis, a figure 3.3 points lower than the previous year. This percentage includes about 1,157,500 people”. There are 24,300 employees less than a year ago.
• The fall in the volume of the wage population in the context of the expansion of employment has as its counterpart the increase in the population of self-employed workers which again reaches the highest value of the historical series that began eight years ago.
• At the same time, the wage population to which the employer does not grant a pension discount is 27.4%, which means that just over 1 in 4 employees are deprived of the right to work. This is the series’ highest record for the first quarters of the year. A year ago it was 26.5%.
• 11.1% of the employed population (excluding domestic work) is subject to temporary work, therefore registers employment relationships based on fixed-term contracts. This type of work constitutes one of the dimensions of “atypical work” and has an impact 121,500 people.
• The activity rate is sustained and the employment rate increases, which translates into a reduction of the unemployment rate to 6.4%. This is the lowest figure in the series, 4.3 points less than in the same quarter of 2019, pre-pandemic (10.7%). In the southern zone the unemployment rate is 11%.
• Unemployment affects some 109,000 people. Women continue to be the most affected by this phenomenon: the female unemployment rate is 1.7 times higher than that of the male counterpart.
62% of the unemployed population and 55.1% of the underemployed population are women. A year earlier, female participation in unemployment was lower (54.8%) but was slightly higher in underemployment (56.3%).
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.