A report from the UBA revealed that 35% of workers are poor

A report from the UBA revealed that 35% of workers are poor
A report from the UBA revealed that 35% of workers are poor

The Center for Argentine Recovery of the University of Buenos Aires (UBA), made a report that revealed that after the increase in the total basic basket, the 34,9% of employed workers are below the poverty line.

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The report recorded a “growing record of people who have jobs but are poor” and explained that in this situation “their family income is not enough to cover a basket of basic goods and services,” the Center maintains.

The study also maintains that, compared to 2017, the average income of employed workers fell by almost 40%, of which a 14% occurred during the first six months of the year 2024, “This is a phenomenon that has increased in recent years and has grown significantly in the last six months.”the document states.

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The report also highlighted that the level of employment is at levels similar to those recorded during the third quarter of 2021, at the height of the pandemic, and that the unemployment rate is growing faster than the decline in the employment and activity rates.

The report further reveals that there are 265.950 new unemployed and warned that the growth of 32,4% unemployment between the fourth quarter of 2023 and the first of 2024 results in the existence of 1.088.000 currently unemployed.

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Among the sectors that suffered the most from the increase in unemployment, is the construction, with a total of 42,7% of job losses. The study explains that the decline in the sector is due to the paralysis of public works since the assumption of the government of Javier Miley.

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Other sectors that had the greatest job losses in the first half of the year were: trade y financial services and real estate, impacted by the drop in consumption due to the recession and the deterioration of the purchasing power of the middle class.

 
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