According to Economía, the number of employed people returned to pre-pandemic levels

According to Economía, the number of employed people returned to pre-pandemic levels

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According to Economía, the number of employed people returned to pre-pandemic levels

Based on data from the first quarter of INDEC, the Ministry of Economy reported that the number of employed urban people exceeded pre-school levels, and that the number of unemployed remained almost unchanged, in 1,853,000 people, about a year ago.

If the employment and unemployment data are compared with the time before the start of the recession, in 2017, the data shows that there are 319,000 unemployed and 568,000 underemployed more than 4 years ago. And that the number of people with employment problems – due to unemployment or working few hours, – increased by 887,000 people, while overall there was a decline in living conditions with a deterioration in all labor, wage and social indicators.

The Ministry of Economy calculated in 40,790,000 the urban population of the country (excluding rural regions), 18,822,000 active people and 16,969,000 the number of employed, based on the employment and unemployment figures of the 31 agglomerates that the INDEC reports on a quarterly basis.

The total unemployed totaled 1,853,000 versus 1,534,000 at the beginning of 2017.

From these data it appears that in 4 years the following phenomena occurred:

* The urban workforce increased by 1,156,000 people and the number of employed in 837,000 people, which explains the increase of 319,000 unemployed.

* If the increase in the underemployed (+ 568,000) is excluded, the formal or informal employed, dependent or self-employed, who work more than 35 hours a week, increased by just 269,000 people.

* Due to layoffs, “voluntary retirements” and retirements, in relation to the total number of employed persons, the proportion of wage earners was reduced from 74.2% to 71.8% and consequently there were an advance the self-employment that, to a greater extent, works in the informal sector.

• The total of formal wage earners, with contributions to Social Security, from the private sector decreased from 6,248,450 in March 2017 to 5,901,716 in the same month of 2021. In total 346,734 fewer private formal salaried employees.

* In those 4 years, the number of unemployed increased by 319,000 people, concentrated between 2018 and 2019 and the same happened with the increase of the 568,000 underemployed.

* Because it is the most populated region in the country, the Buenos Aires suburbs it concentrates a good part of these adverse labor indicators. With 680,000 unemployed, the Greater Buenos Aires belt has 37% of the urban unemployed of all country. And with 711,000 underemployed, almost 32% of underemployment.

What happened to the salaries of formal and informal wage earners?

* Already with data as of April of this year, the salary loss of the last 4 years and 4 months it was 21.9%.

* Registered private workers lost 17.1%. Those of the public sector a decline of 24.5%. And unregistered wage earners, a loss of 29.8%.