He Minimum, Vital and Mobile Wage (SMVyM) “has been a brutal decline from the inauguration” of Javier Milei as President of the Nation. This is stated in a report by the Research and Training Center (CIFRA) from Central Workers of Argentina (CTA).
According to the analysis, the decline “is so big” than the real value of the SMVyM in April It is even below the level recorded during the 2001 crisis.
As highlighted in the work, published in the run-up to the meeting of the Salary Council, which tomorrow, Tuesday, will seek to define a new increase in this aspect, “the value of the minimum wage that had been set for the month of December was absolutely below the price increase of 25.5% that month”.
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But, at the same time, “when said Council was convened late”putting the magnifying glass on the fact that the first institutional meeting where issues related to labor relations are evaluated took place in February, “it was clear that there were no intentions on the part of the government to recover the lost purchasing power but, on the contrary, deepen the fall“he warned.
“Given the unprecedented absence of proposals from the business representation in the Salary Council, the Ministry of Labor It defined there a total increase of 30% in sections, which took the minimum wage to $202,800 since March. In this way, between November 2023 and the current month, this salary nominally increased 38.9% compared to an inflation that can be estimated at more than 110%. Thus, in a few months, a real reduction of 34.1%“said the document.
News in development…