Australia
Argentinian workers hold funerals for wages as inflation hits 90%
While others in the Buenos Aires procession were carrying huge coffins, some of the women were dressed in black funeral attire and garlanded with wreaths.
But this funeral procession in the Argentine capital did not honor an individual.
Instead, it was to mourn the “death” of Argentine workers’ wages. The government has tried for years to curb price increases, but they are expected to hit 90% by the end of this year, eating away at workers’ purchasing power.
“The situation for the workers is devastating,” Melisa Gargarello, head of the protest organizers, the Organization Front of the Struggle (FOL), told Reuters.
“By the middle of the month the salary will be gone. It’s not enough.”
One protester had a “clinical history” of wages in Argentina – a graph showing how inflation had eaten away at the value of wages.
While Australia and much of the world is battling high single-digit inflation this year, Argentina’s struggles fall into a different category.
The iconic procession, bearing a banner reading “Salary is dead”, circled the main streets of the Argentine capital and ended in front of the presidential palace.
Inflation in Argentina is expected to reach 90% by the end of the year. sauce: AFPMore / Emiliano LaSalvia
The wreath worn by the women carried the message, “Break the minimum wage.”
The country’s official monthly minimum wage is 45,540 Argentine pesos ($A485), but a basic food basket for a family of two adults and two children costs more than double that, at 111,298 pesos, according to the National Institute for Statistics INDEC. ($A1189). .
Years of political efforts to curb inflation have done little to keep prices down, with inflation hitting its highest level in 20 years in July.
The latest efforts include the appointment of a new economy minister, Sergio Massa, with expanded powers to curb inflation.
Argentines call him “superminister”.
FOL’s Maximiliano Maita said: “Today we are having a symbolic funeral for wages. I must say that this represents the situation that all workers in Argentina are going through. not.
Currently, the effects of the war and pandemic in Ukraine are causing supply chain problems and increasing costs of goods and services.
Australian wages stagnant despite low unemployment
Australia’s unemployment rate is according to the latest Australian Bureau of Statistics (ABS) figures.
Lower unemployment has historically led to higher wages for Australian workers, but Employment Minister Tony Burke said the link was weakening.
“There is effectively low water pressure for unemployment and upward pressure on wages.
Burke said the government has already begun closing those loopholes by advocating higher minimum wages and better protection for gig workers, and is now focused on stimulating negotiations.
Mikaela Cash, an employment spokeswoman for the opposition party, said it was alarming to see the drop in participation rates and the loss of 86,000 full-time jobs.
She called on the government to allow older Australians to work more without affecting their pensions.
ABS data shows wage growth is well below the current 6.1% despite the lowest unemployment rate in decades .
The ABS released data on Thursday showing average weekly wages and annual earnings rose 1.9% to $1,769.80 a week in the year to May.
Wage growth will be a major point of discussion next month.
Argentinian workers hold funerals for wages as inflation hits 90%
Source link Argentinian workers hold funerals for wages as inflation hits 90%
