Home South AmericaArgentina In May and June the economy continued to create formal jobs in the private sector

In May and June the economy continued to create formal jobs in the private sector

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The sale of construction materials rose 7.58% in July

In construction, monthly growth was 1.0%.

Private registered wage employment grew 0.4% per month in May, according to the Argentine Integrated Social Security System (SIPA), percentage that is replicated in June, according to the Labor Indicators Survey (EIL), consigned the Ministry of Labor in its monthly Panorama of Registered Work.

This process of labor inclusion that extends for 17 consecutive months of employment growth allowed the incorporation of 300,000 workers who were unemployed, informal or inactive, highlighted the report.

Also, he added, the purchasing power of the average salary of registered work in a dependency relationship in the private sector grew in every month of 2022 and, in May, the last month with available information, the highest year-on-year growth of the year (3.6%) was verified.

On the other hand, the interannual variation of the average salary of registered work in private companies grew above inflation: between May 2021 and May 2022, the growth of the average salary reaches 66.4%, while the rise in the Consumer Price Index (CPI) reaches 60 .7%.

For its part, the current level of formal employment of women in private sector companies is close to historical highs.

According to the EIL, in June 2022 the level of private employment registered in companies with more than 10 employed persons of the total of the surveyed agglomerates had an increase of 0.4% in relation to the previous month and of 2.6% in year-on-year terms.

photo file
Photo: file.

All sectors of activity presented a positive balance, but the labor portfolio highlighted the recovery of employment in the transport and financial services sector (0.4%).

Also, both in the buildingas in the trade and manufacturing industry I know supports recovery of employment in the past few months.

In the construction monthly growth was 1.0%in the 0.5% trade and in the industry similar values ​​to the previous month were observed (0.3%), he added.

According to the Ministry of Labor, job growth this month is mainly explained by an rExtraction of staff layoffs.

Telam SE

In May 2022, some 25,000 people entered salaried employment registered during the last month; With this expansion from January 2021 to May from 2022, 300,000 people accessed a formal job in private companies.

“The process of creation of formal private employment observed during the last few months allowed recover all registered work lost during the pandemic Y much of the formal work detached throughout 2019“, highlighted the report.

In May 2022, the number of workers with registered salaried employment in the private sector was 2.3% higher (136,000 more jobs) than the level observed in February 2020, prior to the outbreak of the Covid-19 pandemic in the country.

With respect to the evolution of sectoral employmentthe Hotels and Restaurants sector stands out, which, despite being highly affected by the pandemic, shows a notable monthly growth of 2.2%.

For its part, Construction presents twenty-two consecutive months with positive monthly variations: With growth of 1.1% in May, the sector reached a level of employment almost 10% above that registered at the start of the pandemic.

In the regional comparison, it is observed that 19 of the 24 jurisdictions showed positive variations: Among those that grew the most were Tierra del Fuego (2%), Chaco (1.5%), Catamarca (1.4%), Formosa (1.2%) and Salta (1%).

The number of people with work registered in the social security systeml (including public and private salaried employment, self-employment and monotax work) reached 12.6 million in May, 0.5% more than in April and 4.7% higher than that verified in February 2020; and the highest value since the beginning of the statistical series in 2012.

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