The unions and employers’ chambers meet negotiating types of increases with the aim that salaries lose the least possible ground in the face of escalating inflation and the consequent loss of purchasing power.
In this delicate economic context, during the first two months of the year lhe trend in terms of joint negotiations has been focused on monthly or bimonthly salary adjustmentscomplemented with vouchers, bonuses and other tools in a recessive environment.
Although in some areas, for now, There has been no new agreementin others important increases have already been agreedin the middle of a inflation estimate of the order of 100% for the January-March quarter, which puts strong pressure on salaries.
They stand out in this sense, to mention, increases in the income of banking, pharmaceutical, metallurgical and transportation workers, among others.
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The main salary agreements at the beginning of 2024
Pharmacists
In what was the first joint agreement of any union during 2024, closed in the early hours of January, the Argentine Union of Pharmacists and Biochemists closed an increase of 91% quarterly, 19% for January, 43% for February and 29% for March.
This way, the income floor for pharmacy and laboratory professionals passed to be $750,000to which can be added, as established in the clauses of the agreement, an additional 10% for presenteeism, 12% for training and 20% for management of the establishment.
Banking
The Bank closed an agreement that implies a retroactive increase of 23.2% starting December 1 (based on December 2022).
In addition, on that basis of December 2023, a salary increase of 20% which works under the concept of advance on account of inflation reported by INDEC, which brought the initial salary of the activity to $904.357,68.
While at the end of February another advance of 14% and an update of 0.60% for January closed, which covered the inflationary difference of the month, so the initial salary for February plus the “share of Profit” will rise to $1.036.122,60.
Metalworkers
Last month, the Metallurgical Workers Union (UOM) agreed to a salary increase of 25.5% (corresponding to December inflation) for January salaries. This increase will be applied to the salaries in force in the activity as of December 31.
They are currently in joint ventures that are not coming to fruition, since the union’s request is a 35% salary increase starting in February and the business sector offers an advance payment of 15% on account of future agreements starting on February 1. February
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Oilers
The oil workers They agreed to a 41% salary adjustment. Furthermore, workers in the sector will receive a bonus of $644,000which is awarded annually and is considered part of the profit sharing.
Starting in January, the basic salary for the initial category, that of laborer, will reach $992,161.89. It should be noted that the parity for the year 2023 had closed with an increase of 211.4%.
Construction
The Construction Workers Union of the Argentine Republic (UOCRA) signed a 20% increase for January salariesconsidering it as an advance in anticipation of the monthly price increase, with a monthly review system similar to that used by its banking peers.
Like the UOM, they are in full joint negotiation to set a new increase from February.
Automotive
He Union of Mechanics and Related Automotive Transport (SMATA)which used to agree to increases on a quarterly basis, signed with the automotive companies a salary increase of 38.85% for January and February on account of the inflation accumulated in the two-month period.
Feeding
The Federation of Food Workers agreed a one-time extraordinary bonus of $40,000With a cumulative increase of 34% in January on December salaries, followed by a cumulative increase of 20% in February about January salaries.
Although the sum of these increases is equivalent to 54.9%, due to their cumulative nature, The total increase reaches 62% compared to December salaries. Added to this is the single sum of $40,000.
In March, joint negotiations will be reopened.
On the gondola, the consumer paid almost four times more than what the producer received during January
Trade
The Trade Employees Union, the union with the largest number of employees, closed a retroactive adjustment of 11% for December (added to the 13.3% already received), in addition to a 20% non-remunerative increase which will be paid along with January salaries.
With this increase, The gross basic salary for January reaches $573,423considering presenteeism.
The union with the most employees closed with the business sector a salary increase of 17.6% to apply from February, so the basic salary they will receive starting this month will start at $658,000 gross.
Transport
During the first week of Februaryan agreement was reached in the joint negotiations of bus driverswho had threatened to carry out a strike. The UTA established a base salary of $597,000 for January and $737,000 for February.
In addition, an increase in additional travel expenses and reimbursement of expenses was negotiated, as well as an extraordinary allocation of $390,000which will be paid in two tranches. Therefore, in February, the total salary will be $1 million.
In detail, In January, drivers will receive $818,960 ($597,000 initial basic salary, $81,960 in travel expenses and $140,000 corresponding to the first installment of the fixed sum, which will be paid on February 20). By February, they will experience a 33% increase, reaching a total of $1,088,160 ($737,000 basic salary, $101,160 in travel expenses and $250,000 for the second installment of the fixed sum, to be paid on March 15).
After March 15, negotiations will resume.
State workers
The State Workers Union (ATE) agreed to a 16% increase for January. The Government proposed a 12% increase from February but it was rejected by the union, arguing that inflation in the first month of the year was 20%.
Sanidad
The Federation of Associations of Argentine Health Workers (FATSA)the business chambers and the Governmentor have reached an agreement to award a one-time non-remunerative lump sum of $70,000, to be paid on February 9, under the name of “Gratification Minutes of Agreement of 1/31/2024”.
Furthermore, as agreed, the employer’s contribution to the corresponding social work will be applied to this non-remunerative sum.
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Loading and Unloading Workers
The Union of Loading and Unloading Workers closed an increase of 51% for the January-March quarter, in 3 installments of 17%, and established an automatic review clause according to inflation data.
truckers
The union led by Pablo Moyano reopened the joint discussion in January and reached a bimonthly salary guideline of 33.5%, segmented by 12.5% in January and 21% in February. In addition, negotiations will begin to define the increases for March and April.
Tankers
For oilfield workers, an agreement has been reached for a 47.5% increase in JanuaryQualified as “extraordinary gratification.”
Negotiations will resume from February 15. In the 2023 annual parity, workers in the oil sector achieved an increase of 183.2%.
Building managers
The Argentine Federation of Rental and Horizontal Building Workers (Fateryh) agreed to a 45% salary increase for February and agreed to meet again with the chambers of the employer sector at the end of the month to evaluate a new recomposition.
With the agreed increase, building managers will have a basic salary of $441,447 in the case of the category with housing in the building and $518,912 in the case of managers without housing.
Safe
They agreed to a 54% increase for the first two months, divided into 32% for January and 22% for February. The percentages are applied based on December salaries. Once all the percentages are settled, a Group 1 worker who works 8 effective hours will exceed $930,000 gross.
Plastics
The Plastic Union will also negotiate month by month. He had agreed to a 24.35% increase for January and a non-remunerative lump sum of $70,000. In the first days of February, it closed an increase of 25% more compared to January and a bonus of $85,000, achieving almost 50% in the first two months. The union and the chambers will meet again in 30 days to negotiate the next increases.
Pastry chefs
The salary increase will be 24% non-remunerative on January basic salaries for the Pastry Branch. In February this increase is added to the basic one.
Perfumers
The Perfume Workers Union signed a 20% increase in December over November values, and a 15% increase in January over December values.