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Argentine economic contraction under Milei administration

Updated 1 time since CLSTR started tracking revisions of this situation.

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2026-10-11 22:05 UTC → 2026-10-12 16:37 UTC · added removed

Under the administration of Javier Milei, Argentina has experienced significant contractions in both the public sector and formal business registrations. Data from the National Institute of Statistics and Censuses (INDEC) shows that public sector employment decreased by over 72,000 positions between December 2023 and August, falling from 341,465 to 269,025. The most notable reduction occurred within ‘other entities.’ Simultaneously, the number of registered employers has declined by 32,290 since November 2023, marking 18 consecutive months of decreases. While According to the Superintendencia de Riesgos del Trabajo (SRT), this represents a 6.3% decline from the 512,357 employers recorded in registration November 2023 to 480,067 in July 2026. While the SRT clarifies that a decrease in the registry does not always exclusively signify business closures, economic groups closures—noting it can reflect corporate reorganizations or changes in tax identification—the decline in formal employment is significant, with the private sector losing approximately 121,000 formal jobs over a twelve-month period. Economic groups, including the Unión Industrial Argentina (UIA) and analysts from the Centro de Economia Política Argentina (CEPA), attribute the trend to high operational expenses, rising utility costs, high interest rates, and weak consumer demand. Additionally, the industrial sector saw a 12% decline during the first half of 2026, while consumer goods imports rose significantly compared 2026. Analysts suggest the country may be entering a technical recession, with GDP growth expected to 2023 levels. remain slow as the economy approaches the 2027 election cycle.

Versions

  1. 2026-10-12 16:37 UTC Argentine economic contraction under Milei administration
  2. 2026-10-11 22:05 UTC Argentine economic contraction under Milei administration

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