Argentina loses 32,000 registered employers under Milei administration

Since Javier Milei assumed the presidency in December 2023, Argentina has seen a reduction of 32,290 registered employers, according to data from the Superintendencia de Riesgos del Trabajo (SRT). This represents a 6.3% decline from the 512,357 employers recorded in November 2023 to 480,067 in July 2026. The report notes that July marked the 18th consecutive month of decline in the number of active firms with registered workers.

The SRT clarifies that the decrease in the registry does not exclusively signify business closures; it can also reflect corporate reorganizations, changes in tax identification, or the loss of registered employees. However, the decline in formal employment is significant, with the private sector losing approximately 121,000 formal jobs over a twelve-month period.

Economic analysts from the Centro de Economia Política Argentina (CEPA) and business entities like the Unión Industrial Argentina (UIA) attribute the contraction to several factors: reduced household purchasing power due to high debt and rising utility costs, increased operational expenses, high interest rates, and competition from imported goods. Additionally, analysts suggest the country may be entering a technical recession, with GDP growth expected to remain slow as the economy approaches the 2027 election cycle.