Among nearly 1,500,000 wage-earning professionals and employees in the City of Buenos Aires, half make less than AR $10,000 per month, according to the capital’s statistics bureau.
The City of Buenos Aires’ Census and Statistics Directory used figures from Argentina’s first trimester to release its findings yesterday.
Things are slightly better for men (of course), as their mean salary is AR $12,000 while half of women make less than AR $9,500. According to the study, the gender wage gap is due to men working more hours, an average of 42 per week, compared to women’s average of 34. This in turn would be due to women frequently being employed in positions requiring less skills and qualifications, the study claims.
From here things get slightly more grim. Of the residents with monthly salaries below AR $10,000, 50 percent make less than AR $7,000 and 20 percent make less than AR $4,000.
There is also a discrepancy in wages depending on what neighborhood residents live in. People living in the southern zone make on average 40 percent less than their northern neighbors and according to the “Revenues in the City of Buenos Aires,” total income in homes north of the City is 53 percent higher.
As you may be all too aware, wages have hardly kept up with inflation in this beautiful and bustling City, making the prices and rent we once knew distant memories to our bank accounts. Minimum wage is set to increase 33 percent by the end of the year, from the prior AR $6,060 to first AR $6,810 in June, then AR $7,560 in September and finally AR $8,060 in January of next year. But with an approximately 40 percent annual inflation rate, that’s still not very high.
President Mauricio Macri has repeatedly promised that the country’s second semester will see inflation fall. We certainly hope so.