Factory Job Losses Undercut Macri's Pro-Trade Talk in Argentina
- Manufacturing jobs were hardest-hit, January data shows
- Argentine economy in recession as Macri seeks reelection
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Argentine factories are shedding more jobs in the country’s recession than any other sector, testing President Mauricio Macri’s pro-trade pledges just months before he faces re-election.
Manufacturers eliminated 62,000 posts between this January and last, according to government numbers published Thursday. That amounts to almost half the total number of jobs shed by the entire private sector in that period, and compares to 42,000 positions lost in retail, the second-worst hit industry.