A report revealed that labor demand is the lowest in the last decade

After three consecutive months of falling economic activity, the economic crisis in Argentina is deepening, and labor demand is plummeting, as only a small percentage of companies consider hiring new workers in the coming months. Based on a Labor Indicators Survey (EIL) by the Ministry of Labor, only 2.3% of companies with 10 or more workers are considering hiring new employees. This compares with 95.2% who plan to maintain their workforce and 2.5% who are considering layoffs. In fact, historical data reveals that the proportion of those who intend to hire is the lowest it has been in a decade. The situation worries skilled workers, as the job search rate is lower for them. While the unskilled have a search rate of 3%, professionals barely reach 0.9%. In addition, there is a gender disparity in job opportunities, as 81.5% of searches are for indistinct sex, 12.8% for women and only 5.7% for men. In terms of working conditions, the proportion of dismissals without cause increased, reaching 12.6% of the total dismissals in February. This represents the highest number for that time of year since 2020. On the other hand, just cause dismissals increased from 2.7% to 4.5%, while resignations decreased from 60.2% to 53.4%. This is also reflected in the evolution of the labour market, due to the fact that some sectors show some stability or slight growth, such as manufacturing, communal, social and personal services, and commerce, restaurants and hotels, construction experienced a sharp drop of 11.2% in the last year.

Original source in Spanish