Argentina is facing a deepening economic crisis marked by a decline in real incomes and rising unemployment. According to a report by the Latin American Strategic Center Geopolitics (CELAG), Argentine workers receive the lowest salaries in Latin America, even lower than in Bolivia or Paraguay. Between November 2023 and August 2025, the country lost 276,624 formal jobs, averaging over 432 positions per day. While inflation has slowed, it remains high, and wages, particularly in the public sector, have significantly fallen behind. Data from the University of Buenos Aires (UBA) shows that the real minimum wage has dropped by 34% since November 2023 and is now below the 2001 level. This situation has led to a surge in multiple job holdings, with over 2.4 million people, or 16.6% of the economically active population, holding more than one job to cover basic living costs. Workers in key sectors like energy and oil refining are staging strikes, demanding salary increases and protesting against the privatization of state-owned companies. Meanwhile, in some sectors, such as banking, unions have managed to secure agreements that index wages to inflation.
