half of the workers earned less than $300,000

half of the workers earned less than $300,000
half of the workers earned less than $300,000
  1. Economy
  2. National Economy

The data corresponds to the first quarter of the year, as published by Indec. Inequality in the income of the population, measured through the Gini coefficient, worsened, reaching a value of 0.467, versus 0.446 in the same period of the previous year (with zero being the value that implies absolute equality and one being total inequality). Income inequality between men and women also worsened.

After the devaluation of Milei and Caputo, inflation accelerated at the end of the year, which destroyed salaries and incomes. But not everyone lost. According to Indec data, inequality in the income of the population worsened measured through Gini coefficient reached a value of 0.467versus 0.446 in the same period of the previous year (with zero being the value that implies absolute equality and one being total inequality).

While, 50% of workers received less than $300,000 in the first quarter of the year. While 80% of employees earned less than $500,000 in the same period. That is, the majority of the working class lives with incomes below the minimum consumption basket prepared by the Internal Board of Ate Indec (the average for the first quarter of the year was $1,048,178). This basket is neither an ideal nor an optimum, but it is close to what is needed to make ends meet.

Furthermore, the report confirmed the great inequality in income between men and women although Milei denies it. In the first quarter of the year, men had an average income of $399,265, while that of women was $289,922. The average income from the main occupation of women was 24.2% lower than that of men in the 1st quarter of 2023, while in the same quarter of this year it was 27.4%.

The Indec report gives an account of the income inequality between formal and informal workers. The document shows that the average income of salaried people with a retirement discount was $449,382 and increased 196.1% in one year while, in the case of those without a retirement discount, the average income was $197,467 and increased 200.8% in the last twelve months. In one year, the average income of employees increased below inflation, which was 274%.

In the case of the homeswhen considering of total income, 50% had income less than $500,000. While, the gap between households with the highest and lowest income is almost 18 timesconsidering that in the first case the average household income was $33,937,000 and in the second, $188,000.

It is urgent to emergency surge to recover what was lost for retirees, workers and social programs. For a minimum income of $851,351 (May), which is what a basic basket costs on the way to achieving a minimum wage equal to the family basket that Ate-Indec workers calculated at $1,309,303 (May). Along with the incorporation of trigger clauses that update the salary month by month according to inflation. The CGT and the entire union leadership have to lead a fighting plan to confront the ongoing adjustment of Milei and the IMF.

 
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