Unions and business chambers have reached several collective agreements at the beginning of 2025. The Union of Workers in Tourism, Hotels, and Gastronomy of the Argentine Republic (UTHGRA) has agreed on a 16% increase for sector workers, divided into three phases: 5% in December 2024, 5% in January, and 6% in February 2025, totaling an increase of 11% in the first quarter of the year.
Meanwhile, Truck Drivers have reached a quarterly understanding with the Government, which will allow for salary updates for some workers. It is noteworthy that unions this year aim to maintain employees' purchasing power rather than just mitigate the impact of inflation.
In the banking sector, La Bancaria announced a collective increase of 2.7% for workers in December, to be paid with January salaries. At the same time, the Argentine Federation of Commercial Employees (FAECyS) agreed on a 5.1% increase for the January-March quarter, in addition to a bonus of $600,000 to be distributed in four installments.
It is pertinent to mention that the Government proposes to reduce the cap on negotiations to 1% monthly, based on the deceleration of the Consumer Price Index in recent months. The next meetings between the signing parties are expected to take place in April to analyze economic variations and adjust salary scales accordingly.
