Argentina sees over 28,000 firms close and 341,000 jobs lost since Milei took office

Official data from the Superintendencia de Riesgos del Trabajo show that between November 2023 and April 2026, 28,262 productive units (companies with at least one employee) disappeared, eliminating 341,396 registered jobs. In April 2026 alone, 1,814 firms shut and 1,555 formal positions were lost. The drop reflects a 5.5 % fall in the stock of companies and a 3.5 % decline in formal employment compared with the start of President Javier Milei’s administration. Analysts say most of the impact falls on small and medium‑size enterprises, which account for over 99 % of Argentine businesses and about 70 % of private‑sector jobs. The contraction follows a severe devaluation in late 2023, public‑spending cuts and a slowdown in construction and manufacturing, leading to fewer new firms and a rise in informal employment.