THE Salaries of registered workers grew by 165% in 2023 according to the report of the Secretary of Labor. Compared to inflation of 211.4%, this represents a loss of 15%, worsening the decline of recent years.
A significant portion of this decline occurred in December due to skyrocketing inflation (25.6%) while salaries increased by 11.4%. This decline is assumed to have continued into this first quarter.
THE registered employees (public and private) in December they added almost 11 million.
The average gross nominal salary for the month of December 2023excluding seasonality, among other reasons for collecting the half bonus, it was $572,426 compared to $276,528 in the same month in 2022.
For its part, the gross salary of half of registered workers amounted to $449,193 compared to $169,863 a year ago.
That is, 10% below the poverty line: in December, the the poverty basket of a typical family was $495,798.32. This explains the increase poverty among formal workers.
The gross salary – before pension and health deductions – is that declared by the companies for each month. Does not include compensation. In the case of remuneration without seasonality, among others, the half bonus for June and December is not included.
Registered employment has been decreasing since September
For its part, “after positive monthly rates of change were observed continuously between August 2020 and August 2023 in private registered employment, Employment declines in September, October, November and December 2023. This interrupts the process of recovery of the formal salaried labor market that began in August 2020,” reads the Report.
One of the main sectors that led to this decline in private employment was the economy construction“which stopped its growth seven months ago and has accelerated its decline over the last four. From 470,500 workers in May 2023 it has been reduced to 425,884. And it is estimated that it has continued to decline in this first quarter of 2024, due, among other things, to the interruption of public works.
Add to this that Hotels and restaurants, which reached the maximum level of employment in August 2023 and had a contraction trend from the following month. “The performance of these sectors, which until recently were the most dynamic, explains a good part of the change in the current situation of the formal labor market,” we read in the Report.
This behavior of registered private work was different depending on the activities and provinces. The Report highlights that in 9 sectors recorded monthly employment growth, while a restrictive trend was observed in five sectors.
Among the lines of business with greater dynamism monthly are: Fishing (+5.5%); Agriculture and livestock farming (+0.4%); Exploitation of mines and quarries (+0.3%) and Financial intermediation (+0.3%). On the contrary, the sectors that presented the greater contractions they were: Construction (-2.9%); Manufacturing industry (-0.2%) and Hotels and restaurants (-0.2%).
The provinces that increased employment were: Chubut (2.4%), Entre Ríos (0.3%), Mendoza (0.3%) and Salta (0.2%). And those that showed a decline were Tierra del Fuego (-3.2%), Formosa (-1.7%), San Luis (-1.2%), San Juan (-1%), La Rioja ( -0.7%), Chaco (-0.8%), Catamarca (0.7%) and Jujuy (-0.7%).
In the City and Province of Buenos Aires there have been no major changes.
He self-employment has increased compared to the previous month for the growth of workers under the single-tax regime (0.6%). On the other hand, self-employed workers and social tax payers decreased in December 2023 (-1.3% and -0.7% respectively). And there are no changes in the work of the Casas Particulares (462,473 registered in December)
Source: Clarin
