ARGENTINA |
Formal employment on the rise. The number of people employed in the formal economy in February was up 10% on the same month last year; February being the 41st successive month of increasing formal employment. The biggest booster of formal employment over the 12 months to February was the construction industry with an increase of 27.6%. Whether this will continue is open to question since the sector recorded a decline of 0.1% between January and February. In manufacturing formal employment increased by 0.4% between January and February and 8.2% since February 2005.
Labour Minister Carlos Tomada says that it is not only the number of jobs that is increasing, but also the quality. The proportion of salaried workers in the black economy in the last quarter of 2005 had fallen to 45.5% from 48.9% a year earlier.
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