Business closures in Buenos Aires

perry

Veteran

This article states that over 7000 small businesses have closed their doors this year alone. In Palermo Soho and Hollywood nearly 50 percent of all locales are on the border of closing their doors. This Is absolutely devastating and shows the Depth of this crisis. There have been more store closures this year than since 1991
 
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lunar

Registered
There are 44 million people in Argentina.
28 thousand people have lost their jobs in the last 4 months.
Unemployment rate has increased 0.06%.

Still shocking?
 

perry

Veteran
There are 44 million people in Argentina.
28 thousand people have lost their jobs in the last 4 months.
Unemployment rate has increased 0.06%.

Still shocking?
This Is only Buenos Aires if you have bothered to read the article ? Buenos Aires provincia has 35 percent of the population and Is the richest province of Argentina . If you calculate these figures nationwide close to 70 thousand people have lost their jobs nationwide in just 4 months. This Is from small business mind you meaning that I would hazard to guess that hundreds of thousands of people of working age have lost their job in the last year if we include big business .Unemployment has nearly doubled in Argentina the last years and underemployment Is the normal for the working clases. Yes and its a shocking figure
 
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lunar

Registered
Buenos Aires provincia has 35 percent of the population ...
Ok, 0.06% / 0.35 = 0.17%

When overall unemployment rate is like 9%.

I would say this is within the fluctuations.

 

perry

Veteran
Ok, 0.06% / 0.35 = 0.17%

When overall unemployment rate is like 9%.

I would say this is within the fluctuations.

There Is a lot of propaganda about the real employment figures in Argentina as to favor the current government . The real figure Is 15 percent and underemployment 30 percent. There Is a tremendous social crisis in Argentina now that many are closing their eyes too
 

perry

Veteran
If the real unemployment figure is 15% then increase of 0.17% is even less remarkable.
So Argentina is going fantastic and everyone is living in luxury ? If you read the article it states clearly that business are closing at a higher rate than even in 2001 when Argentina had its worst crash in history . What does this mean to you ?
If people are working today they are lucky to earn US$ 500 a month in non professional jobs and even professionals are lucky to earn US$ 1,000 a month with a cost of living in dollars the highest in South America ( except Chile and Uruguay ). Chile at least has much higher wages and very low inflation meaning that people can plan for the future . Here everyones life is on hold waiting and waiting and waiting !!!
 

garryl

Registered
So Argentina is going fantastic and everyone is living in luxury ? If you read the article it states clearly that business are closing at a higher rate than even in 2001 when Argentina had its worst crash in history . What does this mean to you ?
If people are working today they are lucky to earn US$ 500 a month in non professional jobs and even professionals are lucky to earn US$ 1,000 a month with a cost of living in dollars the highest in South America ( except Chile and Uruguay ). Chile at least has much higher wages and very low inflation meaning that people can plan for the future . Here everyones life is on hold waiting and waiting and waiting !!!
At certain point, if this persists, the peso has to have a big crash and everything will be dirt cheap ? Are we close to that ?
 

lunar

Registered
f you read the article it states clearly that business are closing at a higher rate than even in 2001 when Argentina had its worst crash in history . What does this mean to you ?
Nothing, actually. Back in 2001 Argentina's economy had already been destroyed, so there were no more businesses to close.

Here everyones life is on hold waiting and waiting and waiting !!!
What exactly is everybody waiting for?
 

perry

Veteran
Nothing, actually. Back in 2001 Argentina's economy had already been destroyed, so there were no more businesses to close.



What exactly is everybody waiting for?

Are you Argentinian? In actual fact most business to the street did not close in 2001 because the costs to run them were dirt cheap in dollars after the crash and there was less inflation than now . Is this hard to understand? Yes many people lost their jobs but by 2003 the economy was booming . Do you believe that the current crisis will last only 1 year ? Already one year has nearly passed and we have not reached rock bottom . How long this crisis will last noone has a real answer .
 
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