Ismael Bermudez
09/09/2021 8:01 AM
Clarín.com
Economy
Updated 09/09/2021 8:01 AM
For the second consecutive month, in July, and
favored by the revision of the parity laws
and the new agreements, formal or registered salaries, with contributions to Social Security, beat inflation: they
increased by 4.4% while the average rises of prices was 3.0%.
Also
in the first 7 months of the year, with 32%, wages advanced more than prices (29.1%)
.
It represents a real improvement of 2.2%. The numbers change if the last 12 months are considered: salaries accumulate an increase of 46.1% versus a year-on-year inflation of 51.8%.
This difference of 5.7 points implies a
wage decrease of 3.8%
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 in July totaled an average of $ 88,274.02 gross, according to the report of the Ministry of Labor based on the companies' declarations before Social Security.
A year ago, the average salary was $ 60,440.53.
Since it is the gross salary, at $ 88,274.02 the worker's retirement and health contribution should be deducted (17%), which gives $ 73,267.43 of "pocket income". 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 August would have once again been above inflation
(which could be less than 3%) 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 set 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.
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