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Salaries increased by 4.6% in October 2024 and again outperformed inflation (2.7 %) for the 7th consecutive month, according to INDEC.
Pink Panther
Well-known member
I think it is good salaries are going up but what is the breaking point? Many business owners tell me that they are at the breaking point because they can't charge more and not making much money. Just worried that some will get laid off. Prices aren't going up as fast as before but they are still going up and expenses are still piling up.
Finance Prof
Well-known member
Impressive that salaries are going up. Hopefully prices slow down now and stay down.
earlyretirement
Moderator
You should continue to see more and more unions negotiating salary increases to match true inflation.
Betsy Ross
Well-known member
All my friends that are professionals are all getting salary increases. I don't think that many people are getting these kind of huge increases like I am reading about. I will have to look on my condo statement but I don't think my portero is getting these huge raises.
BuySellBA
Administrator
Salaries are on the rise and so are salary increase expectations.
In 2024, the salary expectations of Argentinians experienced a significant increase, far exceeding inflation. According to data from Bumeran, the accumulated increase in salary expectations reached 165.31%, placing it 48% points above inflation. This increase brought the average gross expected salary to $1,285,900 per month in December 2024.
This rise represents the largest annual increase since 2017, marking a positive trend in the salary expectations of Argentine workers. The sustained growth throughout 2024 stands in stark contrast to the situation observed in 2023, when the expected salary was nearly 74 points below inflation.The recovery of expected salaries in 2024 is evident in several aspects:
Surpassing inflation: Unlike the previous year, expected salaries significantly outpaced inflation, indicating an improvement in the purchasing power anticipated by workers.
-Constant growth: Throughout the year, there was a steady increase in salary expectations. For example, in November 2024, the average expected salary reached $1,268,432, representing a 4.41% increase compared to the previous month.
-Recovery in dollars: Measured in dollars, the expected salary in Argentina positioned itself as the highest in the Latin American region, reaching US$1,234 per month at the official exchange rate.
This significant increase in expected salaries reflects a clear trend toward recovery of wages in Argentina during 2024, reversing the loss of purchasing power experienced in 2023. Surpassing inflation by such a wide margin suggests a positive shift in the economic expectations of Argentine workers and a potential improvement in labor market conditions.
But it is important to remember these are salary expectations. Not the average of salaries. Big difference!
earlyretirement
Moderator
Salaries are continuing to go up.
In December 2024, salaries in Argentina increased by 3.1%, surpassing the rise in the Consumer Price Index (CPI), which was 2.7%. This marked the ninth consecutive month in which wages outpaced inflation.
Over the course of 2024, salaries grew by 145.5%, while inflation reached 117.8%.Informal or "off-the-books" incomes saw the largest increase, with an annual growth of 196.7%.
This significant rise in the informal sector is partly due to the expansion of Argentina's informal economy, where unregistered jobs have grown more rapidly than formal employment in recent years.Despite these improvements, maintaining purchasing power remains a challenge, particularly for public sector workers, who have lost ground in terms of real income. However, the rise in informal wages could contribute to reducing poverty levels in the country.
In December 2024, salaries in Argentina increased by 3.1%, surpassing the rise in the Consumer Price Index (CPI), which was 2.7%. This marked the ninth consecutive month in which wages outpaced inflation.
Over the course of 2024, salaries grew by 145.5%, while inflation reached 117.8%.Informal or "off-the-books" incomes saw the largest increase, with an annual growth of 196.7%.
This significant rise in the informal sector is partly due to the expansion of Argentina's informal economy, where unregistered jobs have grown more rapidly than formal employment in recent years.Despite these improvements, maintaining purchasing power remains a challenge, particularly for public sector workers, who have lost ground in terms of real income. However, the rise in informal wages could contribute to reducing poverty levels in the country.
Uncle Wong
Well-known member
Wow it would be nice to get a 145% raise in one year! I guess this explains why the approval ratings are so high for Milei.
earlyretirement
Moderator
According to Focus Market, an Argentine consulting firm specializing in marketing, economics and communication, an Argentine needs 19.6 minimum wages to purchase the most economical new car on the market.
In 2021 it took 30 minimum salaries and in 2023 it jumped up to 58 minimum salaries.
This is why President Milei's approval ratings are so high.
Prices are still going up but salaries are going up more.
In 2021 it took 30 minimum salaries and in 2023 it jumped up to 58 minimum salaries.
This is why President Milei's approval ratings are so high.
Prices are still going up but salaries are going up more.
VINO
Well-known member
As long as salary increases outpace inflation I think majority will be ok with what Milei is doing. People forgot how bad Alberto Fernando was and how bad things got. This is a good graph that helps show it.
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