The Workers' Union of Construction of the Argentine Republic (UOCRA) has reached an agreement within the framework of the collective bargaining negotiations for the first quarter of 2025 with the business sector. In this understanding with the Argentine Chamber of Construction (CAMARCO) and the Argentine Federation of Construction Entities (FAEC), a staggered increase of 4.3% over the basic wages in effect as of December 2024 was established.
The agreed increases will be distributed as follows: 1.8% in January 2025 on the basic wages of December 2024, 1.5% in February 2025 on the formed wages of January 2025, and 1% in March 2025 on the basic wages of February 2025. These increases will be cumulative, ensuring a gradual updating of the sector's workers' wages.
Furthermore, it was agreed to pay two fixed non-remunerative amounts of $20,000 for all workers under the Collective Labor Agreements CCT No. 76/75 and CCT No. 577/10, which will be paid with the second half of February and March 2025. Once the current agreement expires, the parties will meet again to assess the economic conditions and possible salary adjustments starting in April.
In the words of the act, it was mentioned that these increases absorb and compensate, until their concurrence, the increases in income level voluntarily granted by employers in anticipation of future increases. This agreement was ratified a week after its signing, and constant monitoring of the economic conditions was planned for possible adjustments in workers' salaries starting in April.
