Almost 35% of employed workers are below the poverty line, according to a study by the UBA

Given the sharp increase in the total basic basket, 34.9% of employed workers are below the poverty line, according to the Center for Argentine Recovery of the University of Buenos Aires (UBA).” We are facing a growing record of people who have jobs but are poor since their family income is not enough to cover a basket of basic goods and services,” the study explained. In addition, when compared to 2017, the average income of employed people fell by almost 40%. Of those points, 14 were during the last six months, the report indicates and adds: “This is a phenomenon that increased in recent years and increased significantly in the last semester.” The level of employment is at similar levels at the time of the exit in the pandemic during the third quarter of 2021. The unemployment rate grows more than the employment and activity rate decreases. The report also highlights that there are currently 265,950 new unemployed in the country and sets off alarms by observing the 32.4% growth in unemployment between the fourth quarter of 2023 and the first quarter of 2024. This gives a total of 1,088,000 unemployed. You may also be interested in: “Sharp decline in industry and construction in May: they fell by 14.8% and 32.6%”Where did unemployment increase the most?
Among the hardest hit sectors, construction leads with 42.7% of the jobs lost. A sector that, in addition, concentrates high rates of precariousness and informality. The study explained that among the causes that explain the fall in this particular area is “the paralysis of public works. The productive sectors that follow in terms of the number of jobs lost are commerce and financial and real estate services, which are directly related to the consumption capacity and purchasing power of the middle and working classes.”

Original source in Spanish