Wages, one of the main victims of Milei’s economic plan
Average private-sector salaries in June fellow below what they were in November 2023, the last month before the government took office La entrada Wages, one of the main victims of Milei’s economic plan se publicó primero en Buenos Aires Herald .
The Milei administration has been claiming that Argentines' purchasing power is recovering after the fiscal adjustment in 2024, despite the data suggesting otherwise. Their main indicator, the registered private-sector wage index, has fallen, contradicting their optimistic claims. In June, the average wage in the private sector was 0.6% below the level from November 2023, a decline that accelerated to 0.9% in June and 2.9% in May.
The slow wage growth has been outpaced by inflation, according to the human capital ministry. The average monthly wage growth in 2026 was just 2.1%, with April and May seeing just 1% growth. The impact of utility costs on wages has increased significantly, from less than 5% in 2023 to 12.6% in July 2026. This wage decline is having a profound effect on Argentines' disposable income, with 66% of the population running out of money before the end of the month.
To make ends meet, nearly 62% have taken out loans, with 53% taking on debt due to basic expense hikes. Nearly 87% of those surveyed admitted to having to work multiple jobs to make ends meet.
Written by urgent.news from Buenos Aires Herald's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Wages, one of the main victims of Milei’s economic plan buenosairesherald.com
