Management of Milei causes loss of 276,000 jobs and closure of more than 19,000 companies in Argentina

Published at: 21/11/2025 11:27 AM

The Argentine Center for Political Economy (CEPA) published a study that highlights the deterioration of labor and business markets by the administration of Javier Milei. The report, which covers the period from November 2023 to August 2025, reveals a significant decline in formal employment and the mass closure of companies.

According to the research, 276,624 formal jobs were lost, a drop of 2.81%, equivalent to more than 432 jobs eliminated daily. The total number of workers fell from 9 million 857 thousand 173 to 9 million 580 thousand 549, reflecting a sustained contraction.

The adjustment in the public sector was the most significant: Public Administration, Defense and Social Security reduced their workforce by 86,982 people. It was followed by construction, with 76,292 layoffs; then transportation and storage, with 59,838; and the manufacturing industry, with 55,941. In relative terms, the construction sector was the most affected, with a drop of 16%, followed by the transport and logistics sector (-11.2%) and cultural and recreational activities (-7.1%).

In addition, the retail sector was also affected. 19,164 companies closed their doors, reducing the number of employees from 512,357 to 493,193, equivalent to almost 30 fewer companies per day. The transport and storage sector led the decline with 4,685 closures (-11.9%), while trade lost 3,510 and the real estate services sector, 2,952.

CEPA highlights that small and medium-sized enterprises (SMEs), with up to 500 employees, accounted for the majority of closures, corresponding to 99.63% of the disbanded companies.

Mazo News Team