Argentina has lost nearly 22,000 companies during the first two years of President Javier Milei’s administration, according to official data.
from the Superintendencia de Riesgos del Trabajo (Superintendency of Occupational Risks).
Figures from the occupational Superintendencia de Riesgos del Trabajo risk system show that the number of registered employers in Argentina fell from 512,357 in November 2023 to 490,419 in November 2025 – a net decline of 21,938 companies over 24 months.
Over the same period, the number of registered workers dropped from 9,857,173 to 9,566,571 – a decrease of 290,602 jobs.
The contraction continued through 2025. In November alone, there was a net loss of 892 companies. Across the first 11 months of the year, the system recorded a cumulative net decline of 9,722 employers.
The steepest fall occurred during the first half of 2024, following the sharp peso devaluation and the President’s sweeping public spending cuts – dubbed the “chainsaw” plan – which hit construction particularly hard.
From the end of 2023 to mid-2024, the number of registered firms fell steadily before the pace of decline began to ease. By December 2024, the total had reached 499,682 companies.
Construction was among the sectors most affected, reflecting the freeze in public works and the broader slowdown in activity triggered by the government’s fiscal adjustment programme.
The Superintendency’s latest working report also points to high business mortality among newer firms. Between the third quarter of 2024 and the second quarter of 2025, 34 percent of all company closures involved businesses less than three years old, suggesting that a significant share of new market entrants are unable to survive beyond a short life cycle.
The data underscores the scale of the economic adjustment underway, as the government prioritises fiscal balance while private sector activity remains under strain.
– TIMES/NA
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