Monday, July 22, 2024

ARGENTINA | 26-09-2023 15:53

Argentina's government confirms 20,000-peso bonus for unemployed

Argentina's government has confirmed a one-off 20,000-peso bonus for around 1.5 million registered unemployed workers.

Argentina's government has confirmed a one-off 20,000-peso bonus for registered unemployed workers will be paid in two installments.

The measure was made official via Resolution 1209/2023 and is part of a series of measures established to “reinforce the income of the sectors of the population most affected by the decrease in their purchasing power” in the context of the “prevailing socio-economic situation” of the country, the government said.

“In that setting, and in consistency with those objectives, it is necessary, appropriate and relevant to grant a bonus to workers collecting unemployment benefits,” reads the decree.

Two installments, 10,000 pesos each, will be paid via the ANSES social security agency to any individual entitled to unemployment benefits pursuant to laws 24,013 and 25,371. Some works may only collect for one of the months, should they find work. 

The benefit applies to those dismissed without cause or due to force majeure. In September, the minimum amount of that benefit reached 32,771 pesos, and the maximum 54,628 pesos, calculated based on the income and months in work with contributions over the last three years. These numbers are related to the Minimum Wage (SMVyM) calculations, and thus a modification in this aspect will also affect the unemployment benefit.

The new resolution by the Labour Ministry, co-signed by the Economy Ministry, arrives after government data showed that unemployment in Argentina during the second quarter of 2023 was 6.2 percent, a number totalling nearly 1.4 million people.

The bonus is one of a series of announcements made by Economy Minister Sergio Massa in the run-up to the presidential election in October. He will stand for the ruling coalition.

The minister is to due announce a package of measures aimed at informal workers who have not yet been covered by the initiatives presented over the last few weeks in the coming days, expected to reach around three million people. 



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