Argentina reports 18 consecutive months of declining employer companies

Official data from the Superintendencia de Riesgos del Trabajo (SRT) indicates a continuous decline in the number of active employer companies in Argentina. In July, the total number of active firms fell to approximately 480,057, representing a loss of 948 companies compared to the previous month. This marks 18 consecutive months of contraction.

Since the end of the previous administration in November 2023, the number of registered employer companies has decreased by 32,290, a 6.3% reduction. This decline is noted to be more rapid than the contraction experienced during the COVID-19 pandemic, which saw a 4.2% decrease.

In specific industrial zones like Pilar, the situation is critical, with the Cámara Empresaria del Parque Industrial de Pilar reporting that roughly 50 companies, mostly SMEs, are at risk of closing. This trend is impacting the labor market, with recent data showing a loss of over 10,000 private sector jobs in June.