With inflation rampant, social partners from Argentina’s key economic sectors including commerce, oil, and metallurgy, are reaching a series of annual salary agreements. Salary revaluations have all been settled below the inflation rate in an attempt to square the impossible circle of compensating for workers’ eroding purchasing power, whilst avoiding feeding an inflation spiral, or pushing businesses to the brink of bankruptcy.
At the close of what were arduous negotiations, the commerce sector trade union, and at 1.2 million, Argentina’s largest in terms of membership, has put its signature to a 30% salary increase that will be applied in a several stages [4.5% for September & October, 4.5% for November & December, 4.5% for January 2020 & February 2020, and then 4.5% in March 2020], and to which will be added a bonus to be paid in five installments that will be calculated from salary levels as follows: 4.5% in May-Ju
…Do you have information to share with us?