In Argentina, the average worker earns approximately US$ 482 per month, according to a recent report by the National Institute of Statistics and Census (Indec). This finding sheds light on the challenging nature of the country’s labor market, where around 4.7 million individuals are actively seeking employment opportunities.
Here are some key insights from the survey:
- The average income per worker in Argentina during the third quarter of 2024 was approximately AR$ 588,011, equivalent to US$ 482.
- To avoid being classified as “poor,” an individual needed AR$ 344,536, while a household of three required over AR$ 822,958, and a standard four-member family needed AR$ 1,087,241.
- Despite efforts to curb inflation, poverty rates continue to rise, with the average per capita family income standing at AR$ 393,767.
- There is a notable 27.9% gender income gap, with men earning an average of AR$ 720,852 and women earning AR$ 519,897.
- Unemployment disproportionately affects young people aged between 18 and 24, exacerbating social inequalities.
- The Gini coefficient, which measures income inequality, increased from 0.434 to 0.454, indicating a widening wealth gap in society.
The report also highlighted regional disparities in unemployment rates across Argentina:
- Buenos Aires, led by opposition leader Axel Kicillof, recorded the highest unemployment rate at 8.3% in the third quarter of 2024.
- Tierra del Fuego and Chaco followed closely with rates of 8.1% and 7.1%, respectively.
- The provinces of Tucumán, Santa Cruz, Córdoba, La Pampa, and Neuquén also reported relatively high unemployment rates.
- In contrast, Santiago del Estero and Chubut had the lowest rates at 2% and 2.9%, respectively.
Additionally, the Indec report highlighted underemployment and job-seeking trends in the country:
- Approximately 2.3 million individuals are underemployed, working less than 35 hours per week but seeking additional work opportunities.
- Another 3.4 million individuals are employed job seekers, indicating a significant portion of the population actively looking for better job prospects.
- Overall, around 4.7 million individuals are navigating Argentina’s complex labor market in search of employment opportunities.
Despite these challenges, the Libertarian Government remains optimistic about the country’s economic outlook, projecting a 5% growth rate for the upcoming year. It is crucial to address the underlying issues contributing to income inequality and unemployment to create a more equitable and prosperous society for all.
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