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  HOME | Argentina

Argentina’s Construction Industry Sheds 54,000 Jobs

BUENOS AIRES – Argentina’s construction industry has lost 54,000 jobs since August, due mainly to the suspension of public works projects and delays linked to lack of payment, Argentine Construction Association, or Camarco, president Juan Chediack said Wednesday.

Job losses started rising in 2014 and the situation “worsened during 2015,” especially in September, with no improvement since conservative President Mauricio Macri took office, Chediack told Belgrano radio.

Unions said that about 100,000 private sector jobs have been eliminated in recent months in Argentina.

Chediack, for his part, said the construction industry had been the most affected sector of the economy, accounting for about half of job losses.

The Camarco chief blamed the suspensions and lack of payment on public works projects started during President Cristina Fernandez’s 2007-2015 administration, the high government budget deficit and surging inflation worsened by the lack of cost recovery mechanisms to deal with the situation.

 

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