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Argentina Faces Continued Formal Job Losses Despite Economic Rebound

Substituting machinery for labor to manage steep dollar-denominated wages, companies have reduced formal payrolls as informal work climbs to 42%

Argentina's Economy Minister Luis Caputo arrives to a Mass to mark the anniversary of the formation of Argentina's first independent government, in Buenos Aires, Argentina, Sunday, May 25, 2025. (AP Photo/Gustavo Garello)
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En un año se perdieron 7.700 empresas y cayó el empleo formal.
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Overview

  • Official figures from the Superintendencia de Riesgos del Trabajo show a net loss of 66,750 registered jobs and 7,697 contributing firms between April 2024 and April 2025.
  • The INDEC’s Estimador Mensual de Actividad Económica recorded a 7.7% year-on-year increase in April 2025, marking the seventh consecutive monthly gain.
  • Most sectors posted year-on-year output growth, yet only the Food and Tobacco industry expanded both activity and formal employment.
  • Imports of capital goods surged to historic highs in the first quarter of 2025, reflecting firms’ shift toward machinery and use of idle capacity.
  • Informal employment climbed to 42% in Q1 2025, equating to roughly 224,000 unregistered workers as formal hiring remains depressed.