Two key industrial sectors concluded their annual wage agreements (Paritaria) in June. The oil and metals sectors signed separate specific agreements after hard fought compromises were wrung from between union demands and employer and governmental limits all the while against an inflationary macroeconomic backdrop that continues to put the country and wage discussions under pressure.
Metal agreement. The metals sector has negotiated a wage rise of two times 11%; the first tranche being backdated to 01 April 2017 and the second to 01 July 2017. The text as negotiated by the UOM metals union (Unión obrera metalúrgica) also intends for a 4,000 ARS bonus payment (approximately €207 and paid in two parts, in November 2017 and in February 2018), while the country’s currency continues to depreciate against both the USD and EUR.
In addition companies will pay the equivalent of 600 A
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