Labour Minister Claudio Moroni said today that in 2021 “wages are going to grow and retirements are going to beat inflation,” noting that the government is “happy” with the evolution of real income this year despite the effects of the pandemic.
“We are very pleased with the evolution of real wages in a dreadful year, which could not be worse. By 2020, wages will be parallel to inflation,” the minister said.
“Total employment has been growing, little, but growing,” the official said in radio statements, noting that in September there was a slight 0.1% increase: “Registered private sector workers saw their pay improve by 2.2% in September, and 22.3% grow in the first nine months of the year and 32.4% year-on-year, both below inflation in those periods. In the informal sector, black workers improved their wages in September by 2.3%, compared to August.”
Regarding next year, he projected that “wages are going to grow and retirements are going to beat inflation.” According to the latest INDEC report, wages rose on average by 2.5% in September, down from inflation that month to 2.8%. Between January and September, they accumulated an increase of 21.5%, when the cost of living rose by 22.3%, always according to official data, which they take to registered and informal employment. However, if the comparison is made with a year ago, the difference is greater as wages rose 31.8%, against an inflationary rate of 36.8%. The salaries of those in the public administration grew 3.2% in September compared to August but are the most behind inflation, as since December they have grown 18% and year-on-year at 27.2%. According to public figures, registered private sector workers had a 2.2% improvement in their pay in September, and grew 22.3% in the first nine months of the year and 32.4% year-on-year, both below inflation in those periods. Meanwhile, in the unregistered workers sector, the improvement in wages was 2.3% in September, also below inflation.
