The survey points out this is the eleventh consecutive drop in formal employment, with 28,736 workers becoming unemployed—a figure exceeding the levels seen at the end of Mauricio Macri’s administration, the newspaper *Ambito Financiero* notes.

According to SIPA, 127,893 jobs (-2%) were lost over the last year, while the cumulative job loss since Javier Milei took office in December 2023 totals 235,419 (-3.7%) in the formal private sector, excluding state-sector jobs.

  The monthly loss in April represented an acceleration compared to the previous month, while 90 percent of newly employed individuals need to work more hours to increase their income.

  By sector, employment fell in 12 of the 15 categories analyzed by SIPA, including manufacturing, commerce, real estate and business services, as well as transport, financial intermediation, and mining and quarrying.

BThe job losses are also attributed to a decline in industrial capacity utilization, which dropped to 58.4 percent in May, as acknowledged by the National Institute of Statistics and Census (INDEC).

  According to this official data, manufacturing capacity utilization remains below levels from a year ago, with the metalworking and automotive industries among the hardest-hit sectors.

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