Overview
- Official SIPA data show the private sector lost about 46,000 registered salaried jobs in the first half of 2026 and total registered salaried losses have topped roughly 354,000 since November 2023.
- Consultancies report the private formal sector has shed about 246,300 jobs since the current government took office in November 2023, with steady monthly cuts except for a brief pause in February 2026.
- The new labour reform (RIFL), which took effect on May 1, 2026 to lower employer hiring costs, has not halted the downward trend in registered private employment.
- Job destruction is concentrated in labour‑intensive areas: industry, construction and commerce together account for about 93,000 private job losses since June 2025.
- Workers are moving into informal and self‑employed work as public employment also falls, with monotributistas up about 8% and informal employment rising roughly 4.8%, a shift analysts say reflects weak demand and firms prioritizing productivity and automation over new hires.