Economist Martín Rapetti stated that Argentina is experiencing an 'atypical' recovery of economic activity. For the first time in over a decade, an increase in GDP is accompanied by the destruction of formal employment and greater labor precariousness. Rapetti, a founding member and executive director of Equilibra, a researcher at CONICET and CEDES, and a tenured professor of Advanced Macroeconomics at the University of Buenos Aires, noted that the recent growth shows strong sectoral heterogeneity that explains the fall in registered employment. "There has been a recovery after the initial contraction, but it is quite atypical," he said on Splendid AM 990. "It is the first time, in more than a decade of stagnation, that when the economy grows, it expels labor." He emphasized that the overall increase in employment has been driven by the expansion of the informal sector, while key job-generating sectors such as retail trade, industry, and construction have contracted sharply. Rapetti also commented on the exchange rate, calling it low from a productive standpoint, and warned of risks to the sustainability of the model without reserve accumulation.
