Despite the president’s overreacting attempts Javier Milei and its officials, to show a thriving Argentina that “embraces the ideas of freedom”, and outside of that parallel reality where the president makes trips abroad with public funds to receive awards from far-right organizations: The Government’s economic plan has been causing serious consequences for working people. This Monday, Indec announced indicators that reflect a significant increase in unemployment reaching 7.7% of the economically active population.
The Government and Minister Luis Caputo take the inflation data to show their economic adjustment plan as a success, but the reality is that the slowdown in prices is largely explained by the economic recession (fall in production). . The Indec figures show a first impact of these policies on employment.
Unemployment went from 5.7% to 7.7% between the last quarter of 2023 and the first quarter of 2024. It is common for unemployment to increase during this period of the year, but even in 2018 when the Macri government crisis began, the jump was not that great. The Researcher at the Institute of Studies and Training of the CTA, Luis Campos, pointed out that: “The increase of 0.8 percentage points in the interannual variation is important, but it is not the highest in the recent period. It is second after the increase of one percentage point between the first quarter of 2018 and the same period of 2019.”
The Young people up to 29 years old are the most affected due to the increase in unemployment, particularly women. The variation between the last quarter of 2023 and the first quarter of 2024 was 13.4% at 17.3% among women and from 11.5% to 14.1% among men. Greater Buenos Aires was the region with the highest unemployment in the country and went from 6.5% to 9%.
In the first three months of the year, the economic policies of Javier Milei, such as devaluation and the beginning of economic adjustment. Added to the first round of layoffs in the public sector. But the loss of jobs in the private sector (according to the Ministry of Labor’s Labor Indicators Survey) was almost double.
The most profound consequences of the policies implemented by Javier Milei have not yet been measured. Although the recession data and the increase in unemployment are a first sign of what appears to be a trend that will worsen.
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