Argentina and Chile face deepening economic pessimism and job losses

In Argentina, analysts warn that up to 3,000 firms could close this year, eliminating at least 105,000 jobs on top of the 28,000 companies already lost since President Javier Milei took office. The projection, cited by journalist Francisco Jueguen and backed by the Union Industrial Argentina (UIA), underscores a severe outlook for industrial employment.

In Chile, economist Roberto Méndez describes a persistent climate of pessimism driven by rising living costs, fear of unemployment and dwindling confidence that the new government can quickly improve conditions. He cautions that prolonged pessimism can erode the link between effort and reward, discouraging investment, hiring and social cooperation.