Shitman
--
Argentina in check: companies choose to close during the Milei era
Argentina's president, Javier Milei, has implemented ultra-liberal policies with the intention of revitalizing the national economy. Despite having achieved some positive results, these measures have not yet managed to significantly boost the country's business sector.
According to the Argentine newspaper Página 12, since Milei took office, 11,931 companies have closed. The sectors most affected were: wholesale and retail trade; vehicle repair; transportation and storage services; construction; and professional, scientific and technical services.
"The increase of 941 employers recorded in the August-September period does not compensate for the drop of 1,687 recorded between June and July," explains the report published by the Center for Political Economy (Cepa) based on indicators from the Superintendence of Occupational Risks (SRT) on Social Security.
With the closure of companies also comes a drop in the number of workers registered. Between November 2023 and September 2024, the number of workers registered in production units fell by 2.19%: a loss of 215,981 jobs, which went from 9,857,173 to 9,641,192.
In relative terms, the sector that lost the most was construction, with 6.5% fewer employers in the period analyzed.
This is also the sector most affected by job losses: 85,233 workers were left without their jobs. This represents 17.9% of the total layoffs in the period, according to Cepa.
The reduction in employers is concentrated in companies with up to 500 workers, which account for 99.5% of the total number of closures. The remaining half percentage point is explained by 61 companies with more than 500 employees.
As El País points out, the collapse in construction and also in consumption is explained by the stoppage of public works decreed by Milei when he assumed the presidency and by the fiscal adjustment he made, forcing families to restructure their budgets in the face of increased expenses.
#Write2Earn #VAIPRAARGENTINABOZOTARIO
Argentina's president, Javier Milei, has implemented ultra-liberal policies with the intention of revitalizing the national economy. Despite having achieved some positive results, these measures have not yet managed to significantly boost the country's business sector.
According to the Argentine newspaper Página 12, since Milei took office, 11,931 companies have closed. The sectors most affected were: wholesale and retail trade; vehicle repair; transportation and storage services; construction; and professional, scientific and technical services.
"The increase of 941 employers recorded in the August-September period does not compensate for the drop of 1,687 recorded between June and July," explains the report published by the Center for Political Economy (Cepa) based on indicators from the Superintendence of Occupational Risks (SRT) on Social Security.
With the closure of companies also comes a drop in the number of workers registered. Between November 2023 and September 2024, the number of workers registered in production units fell by 2.19%: a loss of 215,981 jobs, which went from 9,857,173 to 9,641,192.
In relative terms, the sector that lost the most was construction, with 6.5% fewer employers in the period analyzed.
This is also the sector most affected by job losses: 85,233 workers were left without their jobs. This represents 17.9% of the total layoffs in the period, according to Cepa.
The reduction in employers is concentrated in companies with up to 500 workers, which account for 99.5% of the total number of closures. The remaining half percentage point is explained by 61 companies with more than 500 employees.
As El País points out, the collapse in construction and also in consumption is explained by the stoppage of public works decreed by Milei when he assumed the presidency and by the fiscal adjustment he made, forcing families to restructure their budgets in the face of increased expenses.
#Write2Earn #VAIPRAARGENTINABOZOTARIO
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
83
0