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Argentina Sheds Nearly 100,000 Registered Private Jobs Since Milei Took Office, Led by Construction Losses

Analysts trace the slump to halted public works, with policy favoring capital‑intensive projects offering few hires.

Overview

  • Argentina lost about 98,800 registered private‑sector jobs between November 2023 and May 2025, according to CEPA and IAG analyses of official registries.
  • Construction accounted for the largest decline with 59,750 jobs lost, or 60.5% of the total drop, while manufacturing shed roughly 33,100 jobs, a 2.8% contraction.
  • The heaviest regional damage includes declines above 5% in Chaco, Misiones, Formosa, Catamarca, Santiago del Estero, La Rioja, Santa Cruz and Tierra del Fuego, and Buenos Aires province recorded the largest absolute loss with 33,156 positions.
  • Only a few provinces posted gains—led by Neuquén (+6,151), with Mendoza, Tucumán, Río Negro and Corrientes also growing—highlighting a geographically uneven labor picture.
  • Job creation was concentrated in a handful of sectors—commerce (+27,022), agriculture (+10,338) and fishing (+1,312)—as the government touts RIGI‑driven investments that critics say generate limited formal employment.