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Electricity and gas prices have resulted in AMBA households spending more than 6% of their income on electricity bills. In just three months, the average expenditure for Level 1 users has risen to 6.4%.
The house is located in Buenos Aires Metropolitan Area (AMBA) They already spend more than 6% of their income Payment tariff of Luz yes gas, According to a report by a private consulting firm, this is the highest number in the past 30 years.
The main reason is the decline in wages in US dollar terms, which will be in the first half of 2024. They are at their lowest levels in the past 20 years.In March, the average Level 1 user spent 4.1% of RIPTE wages on electricity and gas, rising to 6.4% in just three months.
For low-income users (Tier 2) During the same period, it rose from 1.5% to 4.1%.while middle-income users (third tier) increased from 1.5% to 4.8%.
Electricity and gas spending hit record highs
In terms of average gas costs, The current 3.1% of ripte salaries represents the highest percentage in the entire historical series That exceeds the 2.7% increase in costs between January 2018 and December 2019. The current average is also 1 percentage point higher than the average in the 1990s.
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At the same time, electricity expenditure Equivalent to 2% of RIPTE salary That lags behind the 2.6% between July 1994 and May 2003 and the 2.1% between January 2018 and December 2019.
Negative outlook: Argentina is the country with the worst job creation prospects
As the country is going through a deep recession, with falling consumption and a loss of purchasing power (some say a recovery has already begun), the focus of different opinion polls is on the labor market, as Argentina’s job creation has stagnated compared to other countries in the region.
this Consumption has dropped sharplyOne of the reasons for the decline in inflation is that economic activity has fallen and cracks have begun to appear in the job market. According to the employment expectations survey corresponding to the third quarter of 2024, companies adjust supply according to the level of demand, which is why hiring expectations have remained low for a year. Concerns grow over the country’s unemployment rate in the second half of the year.
The survey was conducted by ManpowerGroup and brought together Over 700 employers The Argentine revealed 36% plan to increase the number of employees, and 33% plan to reduce the number of employees28% of respondents do not anticipate making changes, and the remaining 3% do not know whether they will make changes during the survey period.
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