Milei’s Austerity Plan Pushes Argentina Into Recession in First Quarter

[Larry]

Things not working out as planned for Milei. And some are like firing 525,000 employees in the first 3 months of his Presidency.

Milei’s Austerity Plan Pushes Argentina Into Recession in First Quarter

(Bloomberg) -- Argentina entered a recession in the first quarter of the year as President Javier Milei’s brutal spending cuts sent consumption and activity plummeting.Most Read from BloombergJain Global Raises $5.3 Billion, Secures Cash From Abu DhabiBuzzFeed Struggles to Sell Owner of Hit...

finance.yahoo.com

INDEC reports 5.1% Q1 slump in GDP, unemployment on rise

Argentina's economy contracted by 5.1% in first quarter, says INDEC; Unemployment hit 7.7% as Milei government’s austerity measures began to kick in.

www.batimes.com.ar

 

[Avocado]

Milei is a narcissist at highest level. He in love with himself. IMF say Argentina will contract more than it thought. Poverty rates at all time high. Unemployment is going crazy and more companies in trouble. And this idiot go all over world to accept fake political medals from other country use him for promotion and marketing. Milei is sick. Sick with narcissism. He travel every 2 weeks to go accept award and spend so much money in tax payer money. He say "NO HAY PLATA" but he have lots of money to fly and accept silly award.

He even say now he fixed Argentina and he will win Nobel Prize for fixing Argentina's economy. Someone needs to tell this clown he didn't fix the economy yet!

Javier Milei dijo que “probablemente” le den el premio Nobel por estar “reescribiendo la teoría económica”

El Presidente recibió un premio del Instituto Liberal de República Checa, donde dijo que junto con Demian Reidel están "reescribiendo gran parte de la teoría económica".

www.ambito.com

 

[meraki]

Unemployment keeps rising, and experts say it will continue to increase. This is the sad part of this government, I understand the need to restructure public employment and get rid of the "ñoquis," but this is affecting private companies as well. Even the construction sector has been one of the hardest hit. A local friend of mine has a cousin who worked for a logistics company for eight years, and overnight she was laid off along with 30 other employees. I hope this country’s economy improves soon.

Amplio consenso de que el desempleo seguirá aumentando: cuál es el rango de pronósticos y por qué

Tocó mínimos históricos el año pasado, pero la caída de la actividad de los últimos meses está afectando al mercado laboral y no hay signos de recuperación. Paradójicamente, el nivel de desocupación puede ser mayor en una recesión sin inflación que con inflación

www.infobae.com

 

[Digital Nomad]

Unemployment keeps rising, and experts say it will continue to increase. This is the sad part of this government, I understand the need to restructure public employment and get rid of the "ñoquis," but this is affecting private companies as well. Even the construction sector has been one of the hardest hit. A local friend of mine has a cousin who worked for a logistics company for eight years, and overnight she was laid off along with 30 other employees. I hope this country’s economy improves soon.

Amplio consenso de que el desempleo seguirá aumentando: cuál es el rango de pronósticos y por qué

Tocó mínimos históricos el año pasado, pero la caída de la actividad de los últimos meses está afectando al mercado laboral y no hay signos de recuperación. Paradójicamente, el nivel de desocupación puede ser mayor en una recesión sin inflación que con inflación

www.infobae.com

I read today they just announced they will fire another 25,000 public employees. Not sure who will hire these people as most companies are really hurting with this recession. Milei wasn't lying when he said it will get worse before it gets better. I just hope things turn soon.

 

[Vero]

I read today they just announced they will fire another 25,000 public employees. Not sure who will hire these people as most companies are really hurting with this recession. Milei wasn't lying when he said it will get worse before it gets better. I just hope things turn soon.

Yes many more job losses planned. They are getting rid of 60 different public organizations.

https://www.infobae.com/politica/2024/07/24/el-gobierno-prepara-el-cierre-de-decenas-de-organismos-publicos-por-decreto/

 

[Astrid]

It’s great news that the government has made these changes for getting a job in the public sector! Under the previous administration, there was no real control over how public employees were hired. Now, with the new “knowledge and skills” test, only genuinely qualified people will get these positions, which should put an end to favoritism and those so-called “ghost employees.” It’s a big step toward a more transparent and professional administration. This measure will not only improve the performance of state employees but also ensure that public resources are used more effectively.

Cambios en el Empleo Público: nuevo sistema de ingreso con evaluación, reorganización del personal y desvinculaciones

El Poder Ejecutivo dio a conocer los cambios en las normas para ingresar a trabajar al Estado. Entre otros puntos, se destaca la introducción de una prueba general de “conocimientos y competencias”

www.infobae.com

 

[multitasker]

It’s great news that the government has made these changes for getting a job in the public sector! Under the previous administration, there was no real control over how public employees were hired. Now, with the new “knowledge and skills” test, only genuinely qualified people will get these positions, which should put an end to favoritism and those so-called “ghost employees.” It’s a big step toward a more transparent and professional administration. This measure will not only improve the performance of state employees but also ensure that public resources are used more effectively.

Cambios en el Empleo Público: nuevo sistema de ingreso con evaluación, reorganización del personal y desvinculaciones

El Poder Ejecutivo dio a conocer los cambios en las normas para ingresar a trabajar al Estado. Entre otros puntos, se destaca la introducción de una prueba general de “conocimientos y competencias”

www.infobae.com

Now, even Milei's government has just eliminated hereditary positions in the public administration. This measure ensures that those in charge of positions are qualified and capable, rather than someone who just lands there by inheritance.

https://twitter.com/x/status/1849846828952359242