70% of workers in Argentina were earning under 550,000 pesos a month in June

[Larry]

Just deplorable that so many are earning so little. 70% earning less than 550,000 pesos per month. Less than $500 dollars a month.

70% of workers in Argentina were earning under 550,000 pesos a month in June

Seven out of every 10 households were earning less than a million pesos a month in June, according to INDEC data.

www.batimes.com.ar

 

[MikeRoss]

70%? How accurate are these types of numbers? Do they take in account all of the people working under the table? Is this somehow counted in the statistics? I always wondered because I have some friends that are getting paid as a waiter/waitress and they say they are all under the table. How do they account for people like this?

If true, these numbers are shocking. So 70% of the country are making less than $500 USD per month? And it says another 70% are making less than 950,000 pesos a month? That's only around $865 USD.

I never know what to believe in these surveys. It says the basic food basket marking destitution is 393,319 pesos for 2 adults and 2 children. I don't know how they calculate it so low because when I go to the store for just me I find the supermarkets there aren't cheap. What is in this basket basic of food?

 

[Vince]

70%? How accurate are these types of numbers? Do they take in account all of the people working under the table? Is this somehow counted in the statistics? I always wondered because I have some friends that are getting paid as a waiter/waitress and they say they are all under the table. How do they account for people like this?

If true, these numbers are shocking. So 70% of the country are making less than $500 USD per month? And it says another 70% are making less than 950,000 pesos a month? That's only around $865 USD.

I never know what to believe in these surveys. It says the basic food basket marking destitution is 393,319 pesos for 2 adults and 2 children. I don't know how they calculate it so low because when I go to the store for just me I find the supermarkets there aren't cheap. What is in this basket basic of food?

The salaries here are very low. Their numbers may be off a little but salaries here are low.

 

[Vero]

70%? How accurate are these types of numbers? Do they take in account all of the people working under the table? Is this somehow counted in the statistics? I always wondered because I have some friends that are getting paid as a waiter/waitress and they say they are all under the table. How do they account for people like this?

If true, these numbers are shocking. So 70% of the country are making less than $500 USD per month? And it says another 70% are making less than 950,000 pesos a month? That's only around $865 USD.

I never know what to believe in these surveys. It says the basic food basket marking destitution is 393,319 pesos for 2 adults and 2 children. I don't know how they calculate it so low because when I go to the store for just me I find the supermarkets there aren't cheap. What is in this basket basic of food?

They should be fairly accurate. I don't have exactly what is on the basket of basics but it should be here somewhere.It typically includes these things.

• Food Items: The canasta básica alimentaria (basic food basket) includes staple foods which traditionally might encompass:
  • Bread and bakery products
  • Meats (beef being prevalent, but also chicken or pork)
  • Dairy products like milk, cheese, and eggs
  • Vegetables (potatoes, tomatoes, onions, etc.)
  • Fruits
  • Legumes (like beans, lentils)
  • Rice, pasta
  • Cooking oils
  • Sugar
  • Yerba mate, which is culturally significant in Argentina

INDEC: Instituto Nacional de Estadística y Censos de la República Argentina

El Instituto Nacional de Estadística y Censos de la República Argentina INDEC es el organismo que unifica y ejerce todas las actividades estadísticas oficiales

www.indec.gob.ar

 

[Uncle Wong]

The salaries there are low and lots of people are out of a job. I had a friend that I met there in CABA that worked for the government and she got laid off 3 months ago and still can't find a job. I think just having a job now is also tough. It sounds like even more government jobs are going to end soon too.

 

[Finance Prof]

The salaries there are low and lots of people are out of a job. I had a friend that I met there in CABA that worked for the government and she got laid off 3 months ago and still can't find a job. I think just having a job now is also tough. It sounds like even more government jobs are going to end soon too.

I also know people that lost jobs and still trying to find another one. There is more information in this link below.

El 70% de los trabajadores gana menos de $550.000, según el INDEC

La brecha de ingresos entre el decil más rico de la población y el más pobre es de 14 veces. Los estratos más bajos percibieron en promedio $ 156.476.

www.perfil.com

 

[brandon]

So 70% earn less than $500 USD per month? The cost in dollars there has skyrocketed and the salaries have not gone up much if you have a job at all. I wonder how the government is expecting private sector to increase wages if they aren't doing the same thing with the excuse of no hay plata. Sounds like a devaluation is coming soon which I guess will push up prices even more. Tough situation.

 

[earlyretirement]

70%? How accurate are these types of numbers? Do they take in account all of the people working under the table? Is this somehow counted in the statistics? I always wondered because I have some friends that are getting paid as a waiter/waitress and they say they are all under the table. How do they account for people like this?

If true, these numbers are shocking. So 70% of the country are making less than $500 USD per month? And it says another 70% are making less than 950,000 pesos a month? That's only around $865 USD.

I never know what to believe in these surveys. It says the basic food basket marking destitution is 393,319 pesos for 2 adults and 2 children. I don't know how they calculate it so low because when I go to the store for just me I find the supermarkets there aren't cheap. What is in this basket basic of food?

I believe the figures are probably a bit low as it is impossible to account for all income but it is a good gauge of what people are making. Salaries are low. People complain about the higher cost of living in Argentina with inflation but this basket also goes to show you how far a US dollar income or savings will go in Argentina.

As of current exchange rate a family of 3 can live on $668 USD. A family of 4 for $839 USD. A family of 5 for $882 USD for the essentials. It would be important to point out that I don't believe most expats could live at the basic level that is measured by this basic total. But still a good indicator of cost of living compared to other countries where you couldn't come anywhere close to this.

 

[Spend Thrift]

I believe the figures are probably a bit low as it is impossible to account for all income but it is a good gauge of what people are making. Salaries are low. People complain about the higher cost of living in Argentina with inflation but this basket also goes to show you how far a US dollar income or savings will go in Argentina.

As of current exchange rate a family of 3 can live on $668 USD. A family of 4 for $839 USD. A family of 5 for $882 USD for the essentials. It would be important to point out that I don't believe most expats could live at the basic level that is measured by this basic total. But still a good indicator of cost of living compared to other countries where you couldn't come anywhere close to this.





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Yes a good barometer of how cheap it is here compared to the US. But I don't think most people used to the good life in USA can get by at minimum levels of these #'s. Most moving would get stuck paying higher rental prices than locals pay. I don't think a family of 5 people can live even close to what this is saying they can live for. I am told the public schools are very bad there so at a minimum you would need to budget private schools. BA isn't the bargain it was last year on many things. But still much cheaper than back home.

 

[Vero]

So I found exactly what goes into the basket.

https://www.indec.gob.ar/uploads/informesdeprensa/canasta_10_24CF2527DF47.pdf

 

[Pink Panther]

Thanks for posting this detailed info. I always read about the canasta basica but didn't know what exactly was in it.