What is the hardest hit sector? – El Heraldo

What is the hardest hit sector? – El Heraldo
What is the hardest hit sector? – El Heraldo

According to the Center for Argentine Recovery of the University of Buenos Aires (UBA).
“We are facing a growing number of people who have jobs but are poor because their family income is not enough to cover a basket of basic goods and services,” the study explained.

Compared to 2017, the average income of employed people fell by almost 40%.

Of those, 14 occurred in the last six months, the report says, adding: “This is a phenomenon that has increased in recent years and has risen significantly in the last six months.”

The level of employment is at levels similar to those at the time of the end of the pandemic during the third quarter of 2021. The unemployment rate is growing more than the rate of employment and activity is falling.

The report also highlights that there are currently 265,950 new unemployed people in the country and sets off alarm bells by observing the 32.4% increase in unemployment between the fourth quarter of 2023 and the first quarter of 2024. This gives a total of 1,088,000 unemployed.

Where did unemployment increase the most?
Among the hardest hit sectors, construction leads with 42.7% of job losses. A sector that also has high rates of precariousness and informality.

The study explained that among the causes that explain the decline in this particular sector is “the paralysis of public works.

The productive sectors that continue with the highest number of job losses are trade and financial and real estate services, which are directly related to the consumption capacity and purchasing power of the middle and working classes.”

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