Report: 241,000 Formal Jobs Lost Under Milei as Informality Hits Post-2023 High

New labor-market data highlighted 'jobless growth' as Milei's biggest political liability heading into the 2027 campaign: Argentina has lost 241,000 private-sector payroll jobs (about 4% of the total) and cut 73,000 public-sector jobs since Milei took office, while the number of registered private employers fell to 482,000 — the lowest since 2007. The formal unemployment rate stood at 7.8% in Q1 2026, up from 5.7% when Milei took office, and informal employment climbed to 44% of the workforce, the highest share since Q4 2023. Only Neuquén province — driven by Vaca Muerta — added net businesses over the period. Economists noted this is the second consecutive year GDP has grown while formal employment has fallen.