According to a study by the organization, this phenomenon occurred from November 2023 to April 2024.

In its analysis, CEPA explains that during the first months of President Javier Milei’s administration, 7,820 companies with up to 500 workers and 40 with a larger number of employees had to close.

However, when the drop in employment is analyzed, it can be seen that the expulsion of people was concentrated in the largest entities, where 74 percent of the dismissals occurred.

Moreover, the utilization of installed industrial capacity in May was only 56.8 percent, the lowest level recorded in the last nine years for that month, except for 2020 due to the Covid-19 pandemic.

Except for oil refining, all industrial sectors were affected, confirming the generalized economic recession.

The main collapse is observed in non-metallic mineral products and basic metal industries, indicated the CEPA.

In turn, the Argentine Confederation of Medium Enterprises indicated that activity in the sector fell 18.3 percent year-on-year in April.

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