Not even the oil boom can stop private sector job loss
Despite growth in Neuquén and Río Negro, data shows employment is down almost 2% y-o-y La entrada Not even the oil boom can stop private sector job loss se publicó primero en Buenos Aires Herald .
Employment in the Argentine private sector continued to decline in the first half of 2026, according to labor ministry data. Monthly registered employment dropped 0.1% in June compared to May, with a year-over-year decline of 1.9% (121,000 fewer jobs). Seasonally adjusted employment was 3.9% below November 2023 levels, marking a cumulative loss of 246,312 jobs during the Milei administration - the lowest since the past 50 months.
Only Neuquén and Río Negro provinces surpassed the employment levels from November 2023. The disparity between the energy sector's growth and the real economy's decline is stark, with manufacturing (-7.4%), mining and quarrying (-8.1%), and construction (-14.2%) sectors showing significant job losses. Only agriculture, fishing, and education sectors demonstrated positive trends since Milei's administration.
The situation worsened with 31,342 businesses closing since Milei took office, according to CEPA estimates.
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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- Not even the oil boom can stop private sector job loss buenosairesherald.com
