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Can Argentina’s labor market survive the lockdown?

Formal wage-earners will likely get by

By | [email protected] | April 7, 2020 10:00am

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The labor market is breaking down around the world, and Argentina will be no exception. The lockdown is currently preventing millions of people from working, which not only implies huge losses for companies and investors, but also dramatic reductions in household income.

US weekly jobless claims have taken the headlines recently, skyrocketing to 3.3 million last week and 6.6 million on the current one after years of staying below the 500,000 mark. In Argentina, our most optimistic estimations show that around 5 million workers will be put in an extremely vulnerable position, with little to no income during the lockdown, in addition to the almost 2 million unemployed seen before the pandemic. This new group will require…

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