Despite the new adjustment, wages will be 20 percentage points below inflation

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Durable goods companies are ranked first in the percentage of expected wage growth

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As of July, the strong acceleration of inflation meant a review of the guidelines for salary adjustment in companies. employees In agreement with the leading companies in Argentina, they will receive a cumulative adjustment of 74%. (18 points more than forecast in June), while Out-of-contract staff will average 73%. (13 points more than planned in the middle of the year). Both cases will remain Annual inflation is below 95% by the Central Bank’s Survey of Market Expectations (REM) in August.

The data comes from a survey SEL Consultants come in 134 leading companies of the country, which reveals that more than half of firms have received (or expect) requests to open collective bargaining talks early, and eight in ten companies are considering or considering giving raises to non-agreed staff.

Maria Laura Call, director of the consulting company, notes that the salaries of “the entire staff They will still lose heavily to inflation; At best, they’ll be 20 points down inflation; more than other years”.

“Regardless of the sector, None of the big companies think about keeping up with inflationary growth“- he adds. Yes, differential raises are considered, for example for staff in the technology sector and those considered “talented” who “They get 10 or 15 points above the rest and that helps them keep up with inflation more. But it’s a very limited world, generally no more than 10% or 15% of the staff,” says Kali.

According to REM, the ten consultancies that usually make the best forecast indicate that In 2022, prices will increase by 99.4%, and they estimate that the CPI will increase by 84.1% in 2023. This month, private individuals understand that inflation will continue to exceed six percent.

45% of consulting companies will increase the grant three times, and 44% – more times. April, July and October are the months with the highest frequency of corrections.

Four out of ten companies said that This year, the negotiations have become more complicated than the previous ones. The sectors most expected to experience difficulty are financial services, durable goods, chemicals and agribusiness, utilities and consumer staples.

The SEL survey also meets this year’s projections Evolution of the number of personnel. Every third of the leading companies expects to increase their staff. The most optimistic are public services (80%), technology and communications (55%), durable goods (47%) and laboratories (43%).

84% of companies have cost of living as the main criterion that determines the salary increase; They follow him market (64%) and Merit (57%, 11 points less than a year ago). Domestic equity (20%) and category (six percent) are further apart.

in the analysis according to the sectors of the economy only Chemical and agribusiness Average correction percentage is located Below 70 points (63%). of Georgia durable goods, It leads the list with 76 points, followed by public services (74%) and laboratories with 73%.

When revising wage adjustments, increases throughout the year a 12 percentage point difference between sectors. Mass consumption takes first place with 80%, while durable goods close the table with 68%. In the middle: laboratories, 76%; public services, 75%; Technology and communications, 72%, the same percentage as chemicals and agribusiness and financial services.

The government, when the demand for the opening of joint ventures began, insisted that they do not put a “ceiling” on the negotiations. State Workers Association (ATE) The strike was announced along with the mobilization to re-open the discussion next Tuesday, asking for an urgent increase and the transfer of the people to the permanent enterprise. “The revenues of the public sector started to lose compared to inflation. A nationwide debate on wages is expected“, write Rodolfo Aguiar, Deputy Secretary of ATE, on his Twitter account. banking He has already made this request formally “in order to maintain the purchasing power of the salary”.

Source: La Nacion