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The participation of workers in the economy decreased

August 21, 2018 - By Joseph Taylor

Due to the fall in wages and labor costs, Labor’s share in the economy fell from 48.1% to 45.2% between the second quarter of 2017 and the same period this year. It is a reduction of 2.95 percentage points that are distributed in a reduction of 1.04 points in the public sector and 1.91 points in the private sector, according to INDEC data.

The Report points out that this reduction in Labor participation was mainly due to mining (+ 0.91 points), financial intermediation (+0.60 points), real estate activities (+ 0.54 points) and electricity, gas and water (+0.43 points). It fell the participation of the industry (-0.03 points), trade (-0.37 points) and social services (-0.16 points).

Regarding employment, there are more employed than a year ago, but less than in the fourth quarter of 2017 showing the change in trend that occurred as of the beginning of 2018. The biggest decrease in the first semester affected self-employment and salaried workers informal

In total there are 20,419,000 jobs, of which 15,451,000 are salaried and 4,969,000 non-salaried or self-employed.

Of the employees, 4,750,000 are not registered. With more workers “in black” than “in black” stands out agriculture, construction and domestic staff.

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