Overview
- Official SIPA data show formal private salaried employment fell by about 241,176 workers between November 2023 and May 2026, with manufacturing accounting for roughly 85,561 of those jobs.
- A UNR household-study and sector reports find factory informality has risen over the past decade and now exceeds 40% in manufacturing, leaving informal workers far more likely to live in poor households.
- Techint economists warn industry is in “extreme fragility,” describing a three-part split between modern exporters, low-productivity market firms and a large informal, vulnerable segment.
- The Milei administration has restarted a concentrated political drive — convening the mesa política, meeting governors, planning a 26 August push in the Chamber of Deputies and organizing the papal visit for November 8–11 — while publicly reaffirming deep fiscal cuts.
- Markets are cautious: JP Morgan’s sovereign-risk gauge approached 500 basis points this week and real average wages for registered private workers in June were 0.6% below November 2023, underscoring a gap between macro stabilization claims and weak job and wage trends.