Overview
- Official SIPA data show registered private payrolls fell for the 14th straight month, with a loss of 12,716 jobs in July and a cumulative drop of about 265,765 workers since November 2023.
- The government and the Labour Secretariat say the decline reflects markedly low hiring and firms freezing replacements rather than a wave of large-scale layoffs.
- Job losses are concentrated in industry, construction and commerce and occurred in 21 of 24 provinces while Neuquén, Río Negro and San Juan posted gains tied to energy and local activity.
- Registrations in the monotributo self-employment regime rose by 1,432 in July and by roughly 177,101 since November 2023 but have not compensated for formal salaried losses.
- Wage signals are mixed: provisional August SIPA figures show a 1.3% month-on-month real rise in average remuneration while many negotiated collective wages remain below November 2023 levels, leaving household incomes strained.