RIO DE JANEIRO, BRAZIL – The government of Argentina announced on Saturday, December 14th, that workers fired without just cause over the next 180 days will receive double the normal severance pay.
The “Decree of Need and Urgency” says that “the affected workers will be entitled to receive double the corresponding remuneration according to current legislation”.
The unemployment rate in Argentina rose to 10.6 percent in the second quarter of 2019, one percentage point higher than the previous year, the government said in a press release announcing the decree.
Youths were particularly affected, the government said, suffering an unemployment rate of 24 percent.
“By decision of President Alberto Fernández, the public emergency in occupational matters is declared in view of the need to stop the worsening of the labor crisis,” the statement said.
End of pro-market policy
President Alberto Fernández took office on Tuesday, December 11th, pledging an end to former President Mauricio Macri’s pro-market policies, as inflation rises above 50 percent and poverty soars.
New Economy Minister Martín Guzmán said on Wednesday that Macri’s fiscal tightening measures have failed and that the new government will focus on economic growth over the deficit reduction program, which was the former president’s main effort to reintegrate Argentina into international financial markets.
Source: Globo