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In June, formal wages increased more than inflation

2021-07-30T21:55:22.398Z

In the sixth month of the year, salaries increased 3.7%, while the average rise in prices was 3.2%. Ismael Bermudez 07/30/2021 10:31 AM Clarín.com Economy Updated 07/30/2021 10:31 AM Due to the signing and reopening of joint ventures, in June, formal or registered salaries , with contributions to Social Security, beat inflation: they increased 3.7% while the average rise in prices was 3.2% . Also in the first 6 months of the year, with 26.4%, wages advanced more than prices (25.3%). But the



Ismael Bermudez

07/30/2021 10:31 AM

  • Clarín.com

  • Economy

Updated 07/30/2021 10:31 AM

Due to the signing and reopening of joint ventures, in June,

formal or registered salaries

, with contributions to Social Security,

beat inflation: they increased 3.7% while the average rise in prices was 3.2%

.

Also in the first 6 months of the year, with 26.4%, wages advanced more than prices (25.3%).

But

the numbers change if the last 12 months are considered

:

salaries accumulate a rise of 44.8% versus a year-on-year inflation of 50.2%

.

This difference of more than 5 points implies a wage decline of 3.6% compared to the increase in prices, which is added to the losses of almost 18% that accumulated from 2018 onwards.

The salary data correspond to the RIPTE (Taxable Remuneration of Stable Workers) which as of June totaled an average of $ 84,513.57 gross, according to the report of the Ministry of Labor based on the companies' declarations to Social Security.

A year ago,

the average salary was $ 58,361.93

.

Since it is the gross salary, at $ 84,513.57 the worker's retirement and health contribution should be deducted (17%)

, which gives $ 70,146.26 of "pocket salary

.

"

The RIPTE is calculated based on the average remuneration subject to contributions to the Argentine Integrated Pension System (SIPA) received by workers under a dependency relationship and which were declared continuously during the last 13 months.

It is discounted that formal salaries in July would have been above inflation again

because more agreements and salary reviews were added in installments signed by various unions.

However, the accumulated wage loss for the

last 3 years (2018-2020) was almost 18%

.

• In 2018,

the RIPTE increased 30.6% and year-on-year inflation was 47.6%.

A loss of 11.5%.

• In 2019,

the salary increase was 44.4% and inflation 53.8%

.

A loss of 6.1% • In 2020, wages rose 34.9% and prices 36.1%.

A decline of 0.8%.

As a salary index, the RIPTE is used every three months to fix half the percentage of mobility of retirements, pensions and other social benefits and in the calculation of compensation for work accidents.

Also to update once a year the Minimum Non-Taxable Income tax and to update once a year the salary "floor" of $ 150,000 gross of Earnings to be exempt from paying that tax.

YN

Look also

Entrepreneurs, between fed up and business opportunities

Renting a two room exceeds $ 40 thousand in the City of Buenos Aires

Source: clarin

All business articles on 2021-07-30

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