Argentina sees large year-on-year increase in salaries
Salaries in Argentina increased dramatically year-on-year for the month of November, reports the Buenos Aires Herald.
The Indec national statistics bureau registered an overall increase in salaries of 16.6% in November 2009 compared with the same month in 2008.
Informal workers contributed the largest amount to the increase, with a growth in salaries of 2.73%. Privately registered employees' wages increased by 0.82%.
The only area to show no change in salaries was the public sector. In October workers from this group experienced the highest salary increase of all groups of 3.3%, although increases were registered in every sector.
Since Argentina experienced its financial crisis in 2001 wages in the have increased by over 223%.
On top of rising salaries, the latest Manpower employment survey found that most employers in Argentina were hoping to add to their workforce. Almost 20% of employers were planning on hiring in the first quarter of 2010, with those in the Buenos Aires area most likely to recruit.
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