In November the race was 2.8% vs 2.4%

Formal salaries measured through the RIPTE index (Taxable Remuneration of Stable Workers) increased 2.8% in November and barely exceeded the average inflation that month, which was 2.4%

Thus, and after the strong losses in salary purchasing power during the two previous governments, which was of the order of 20%, in relation to November 2023, The average RIPTE salary increased by 163.7%, while interannual inflation was 166%.

He average salary RIPTE in November was $1,178,925.33, when in the same month of 2023 it had been $447,079.57.

Another official measurement of Workmore limited and with data to september 2024, starting at gross salaries accrued for each month of private sector employees, declared by the employer to the social security system, points out that the average gross nominal remuneration was $1,297,860, and grew by 200.6% compared to the same month of the previous year. For its part, the median gross remuneration (half of the workers) was less than $998,468, with an increase of 191.8% in the year-on-year comparison. Interannual inflation as of September was 209%.

For its part, according to the last INDEC salary data (October), compared to the same month in 2023, the average salary index rose 172.1%, which is broken down unevenly: 184.6% private sector, 138.7% public sector and 199.4% unregistered private. Interannual inflation as of October was 193%.

The employees of the public sector are those that register the greatest decline of salary purchasing power, in line with the cuts (“chainsaw”) of public salary spending. And the informal indices have a delay of 5 monthsso the 199.7% year-on-year reflects “late” variations in line with the inflation rates that were higher.

On the other hand, the Secretary of Labor, Employment and Social Security in the monthly reports clarifies that “the RIPTE cannot be considered as an indicator of the evolution of salaries. It is a forecast indicator that does not necessarily reflect the behavior of the corresponding salaries. to registered salaried employment”.

The RIPTE is a pension and partial salary index that It is calculated on formal salaries with contributions to Social Security up to a limit (maximum tax base of $2,767,091 in November) for personal contributions to the social security system that varies every month, even if the worker has not obtained salary increases. And it considers, but with limits, the salaries of jobs in the private sector and the national, provincial and municipal public sector that transferred their pension funds to the SIPA-ANSeS.

The Ministry of Social Security clarifies that for the calculation of the RIPTE, the salaries of the employees are considered. jobs with a seniority of 13 months or more, from both the public and private sectors. That is, the salaries of new jobs are excluded. Furthermore, it only quantifies the remunerative components of the salary (taxable to the social security system). That is to say, does not take into account non-remunerative increases that are agreed upon in many joint discussions.

That is why the Secretary of Labor considers that the RIPTE (Taxable Remuneration of Stable Workers) does not mean that the total real salary or income has changed in the same proportion.

It recognizes that “it is feasible that, in different periods of time, a typical indicator to evaluate salaries such as the average salary of current private registered employment different variations to RIPTE.” And it is also one of the reasons for the differences with the INDEC Salary Index, which is a survey, and which includes the income of unregistered workers.