Milei’s Shock Therapy Ignites ‘Brutal’ Income Inequality in Argentina
- Gap between private sector and informal workers has ballooned
- Argentina’s Gini coefficient at highest level since 2005
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President Javier Milei’s economic overhaul is driving up income inequality in Argentina, testing just how much “shock therapy” his constituents can bear.
The country’s vast informal workforce saw wages increase 136% year over year in April, nearly half the pace of the 248% jump among the formal private sector, salaried employees, according the most recent available data. Not only are wages in both sectors unable to keep up with 272% inflation, they’re exacerbating income disparity in a nation where 42% of its people already lived in poverty last year.