Milei’s Popularity Holds Steady as Argentina Navigates Economic Change

Argentina is undergoing major economic reforms under President Javier Milei, and the country’s official data and surveys show both challenges and progress.

While the job market faces real pressure, many Argentines continue to support Milei’s policies, trusting that the current sacrifices will lead to longer-term stability.

Unemployment reached 7.9 percent in early 2025, the highest level in nearly four years, with about 1.7 million people actively seeking work.

Sectors like construction, manufacturing, and transport have seen the largest job losses, and over 50,000 public sector positions have been cut since December 2023.

Many workers have moved into informal jobs, which increased by 224,000 over the past year. These roles often offer less security but provide a safety net during transitions.

Despite these labor market pressures, Milei’s approval rating remains strong at 44 percent, with some polls reporting even higher support. More than 70 percent of Argentines view the job market negatively, yet many continue to back the president’s approach.

This support is closely tied to visible economic improvements. Inflation has dropped from over 200 percent in 2023 to around 43 percent by mid-2025, the peso has stabilized, and poverty has fallen from 52 percent to 34 percent.

Wages in the private sector rose by 9.6 percent from January to April 2025, while inflation in the same period was 11.6 percent.

Argentina’s Economy Set to Grow Over 5%

Although this means real purchasing power has not fully recovered, the economy is projected to grow more than 5 percent this year, reversing previous declines.

Milei’s reforms—focused on cutting public spending and opening markets—have stabilized Argentina’s finances. These changes come with trade-offs, including job losses and a shift toward informal work.

However, many Argentines are willing to accept these short-term difficulties, hoping for a more sustainable and competitive economy. Argentina’s experience shows the complexities of rapid reform.

The country is finding a new balance between stability and opportunity, with the public’s continued support reflecting a belief in the long-term benefits of change.

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