As Argentina’s unemployment hits a four-year high, the spotlight has turned to the libertarian administration of President Javier Milei, whose sweeping economic reforms are reshaping the country’s social and labour landscape.
Argentina’s unemployment rate rose to 7.9 percent in the first quarter of 2025, reaching its highest level since mid-2021, as the administration of President Javier Milei presses ahead with sweeping economic reforms. The latest figures from the National Institute of Statistics and Census (INDEC) estimate that around 1.7 million people are now unemployed nationwide.
The data reveals that the most severe impact has been felt in the Greater Buenos Aires area, where unemployment rose to 9.1 percent overall, and as high as 9.7 percent in the surrounding industrial districts. These areas, historically reliant on manufacturing and state-supported industries, have been hit hardest by factory closures and contracting municipal budgets.
The rise in unemployment comes amid the government’s implementation of what President Milei has termed “shock therapy” — a rapid transition away from Argentina’s traditional model of public-sector-driven economic management. This has included deep cuts to state spending, the withdrawal of energy and transport subsidies, and a push toward the privatisation of state-owned enterprises. The government has also moved to tighten monetary policy as part of its anti-inflation strategy.
President Milei has defended these measures as necessary to dismantle what he describes as a corrupt and unsustainable economic structure. In public addresses, he has emphasised that temporary pain is unavoidable, but insists that these reforms will eventually stabilise the country and attract private investment. However, the surge in unemployment has sparked growing public concern, particularly as the cost of living remains high and wage growth continues to lag behind inflation.
Labour unions and opposition parties have intensified their criticism of the government, accusing it of failing to implement job protection mechanisms or offer viable employment alternatives during the transition period. Strikes have disrupted transport and public services, while mass demonstrations have taken place across major urban centres demanding action to protect jobs and support families affected by layoffs.
The Pampas region, Argentina’s agricultural backbone, has also seen a notable rise in unemployment, with rates climbing to 7.4 percent. Local officials report that job losses in agro-processing and logistics are contributing to increased rural hardship.
As the Milei administration continues on its current path, economists are divided over the outlook. Some argue that structural reform is essential to revive Argentina’s long-term competitiveness, while others warn that social unrest and political instability could derail the reform process before benefits materialise.
For now, the pressure is mounting. The government’s ability to manage rising unemployment without triggering a broader crisis will be a defining challenge in the months ahead.
Former Argentine President Cristina Fernandez de Kirchner has been ordered to serve her six-year corruption sentence under house arrest in Buenos Aires, following a judge's ruling on Tuesday.
Argentina’s Supreme Court has confirmed a six-year prison sentence against former President Cristina Fernández de Kirchner for corruption, also upholding a lifetime ban from holding public office.
Argentina's President Javier Milei has once again insulted Spanish Prime Minister Pedro Sanchez during a speech in Madrid, a year after a similar incident caused a diplomatic dispute.
Argentina’s President Javier Milei met Pope Leo at the Vatican, confirming the pontiff’s upcoming visit to Argentina.
Massive ice blocks breaking off from Argentina’s Perito Moreno glacier have grown larger in recent years, raising concerns among experts about its long-term stability amid signs of retreat.
U.S. Vice President J.D. Vance visited military personnel in Los Angeles on Friday following their deployment to the city earlier this month in response to protests triggered by federal immigration enforcement actions.
As Argentina’s unemployment hits a four-year high, the spotlight has turned to the libertarian administration of President Javier Milei, whose sweeping economic reforms are reshaping the country’s social and labour landscape.
South Korea’s chief trade negotiator, Yeo Han-koo, will travel to the United States from June 22 to 27 for a new round of high-level discussions aimed at resolving escalating trade tensions, the Ministry of Trade, Industry and Energy announced on Saturday.
US President Donald Trump said Friday that a major deal with Harvard University could be announced soon.
US President Donald Trump rejected the official assessment from his intelligence community that Iran is not currently building a nuclear weapon.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
The USS Nimitz is heading to the Middle East amid tensions between Israel and Iran. The U.S. aircraft carrier has a decades-long history in the region, from the 1979 hostage crisis to modern deployments, often serving as a key asset during periods of rising friction with Iran.
U.S. Vice President J.D. Vance visited military personnel in Los Angeles on Friday following their deployment to the city earlier this month in response to protests triggered by federal immigration enforcement actions.
South Korea’s chief trade negotiator, Yeo Han-koo, will travel to the United States from June 22 to 27 for a new round of high-level discussions aimed at resolving escalating trade tensions, the Ministry of Trade, Industry and Energy announced on Saturday.
US President Donald Trump said Friday that a major deal with Harvard University could be announced soon.
US President Donald Trump rejected the official assessment from his intelligence community that Iran is not currently building a nuclear weapon.
NATO needs to evolve to meet today’s changing world, Italy’s Defense Minister Guido Crosetto said Friday.
U.S. Vice President J.D. Vance visited military personnel in Los Angeles on Friday following their deployment to the city earlier this month in response to protests triggered by federal immigration enforcement actions.
As Argentina’s unemployment hits a four-year high, the spotlight has turned to the libertarian administration of President Javier Milei, whose sweeping economic reforms are reshaping the country’s social and labour landscape.
South Korea’s chief trade negotiator, Yeo Han-koo, will travel to the United States from June 22 to 27 for a new round of high-level discussions aimed at resolving escalating trade tensions, the Ministry of Trade, Industry and Energy announced on Saturday.
US President Donald Trump said Friday that a major deal with Harvard University could be announced soon.
US President Donald Trump rejected the official assessment from his intelligence community that Iran is not currently building a nuclear weapon.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment