Argentina reports stagnant formal private employment levels since 2016
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Argentina’s formal private-sector employment has remained stagnant since 2016, with approximately 6.13 million registered workers recorded as of May. Despite a 4.9 percent increase in economic activity compared to November 2023, formal private wage employment contracted by 3.8 percent during the same period, resulting in the loss of 241,000 jobs. Key sectors including trade, manufacturing, and construction led these declines, with industry losing nearly 90,000 jobs since September 2023.
Consequences
The continued weakening of hiring and the growing reliance on unprotected labor suggest that formal job losses are likely to persist in the near term. As economic activity fails to translate into employment growth, the labor market remains characterized by a deepening "lost decade" trend with no immediate indicators of a reversal.
Sources
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