Argentina private employment down 3.9% since Milei took office; Buenos Aires leads losses

Registered private employment in Argentina has contracted 3.9% since November 2023, with Buenos Aires losing 90,103 jobs and Tierra del Fuego seeing the steepest percentage decline. The data reflects the labor-market impact of Milei's austerity and deregulation agenda, though the pace of decline may be moderating. This matters as sustained job losses could test political support for reform and weigh on consumption.