Real salary of formal work fell 6.1% in 2019, 19.5% accumulated since 2015

The real salary of the formal worker in Argentina fell 6.1% in 2019, according to the Average Stable Workers Compensation Rate (Ripte), published by the Ministry of Social Security. In December, it advanced 2% in monthly terms and was well below the national CPI that measured Indec in the same period at 3.7%. However, the fall is expected to be greater among informal employees, data that the National Institute of Statistics and Census (Indec) will publish on February 28.

Real salary fell 8% in 2019 and delays economic recovery

The real value of registered workers' salary contracted 8% last year after having fallen 6.2% in 2018, according to a report by the consultant Ecolatina. "The loss of real income was widespread and had a correlation in consumption, which accumulates a drop of more than 10% since the peak of the first quarter of 2018, thus delaying the recovery of activity," says the report.