Industry faces significant loss of formal employment in 2023

Since the beginning of 2023, the industry has topped the list of formal private job losses in Argentina, with a total of approximately 241,176 registered positions eliminated since November of last year, according to official data. The figures indicate that more than one-third of formal private salaried workers have disappeared from the labor market during this period.

A report from the company Techint warns of the "extreme fragility" of the sector, indicating that, despite a slowdown in the decline of employment, there is no clear date for recovery on the horizon. There has also been an increase in informality within the manufacturing sector, which has risen by nearly 10 percentage points in the last decade.

So far, only three sectors have managed to create formal private jobs since Javier Milei took office, highlighting a significant gap in job creation among the different provinces of the country.