Employment, revenue and industrial income grow in July, survey shows

The indicators of employment, billing, salary mass and average income in the industrial sector grew in July compared to the previous month, according to a survey by the National Confederation of Industry (CNI).

According to the survey, the general improvement in the indicators is a consequence of the recovery of the purchasing power of families and of how the industry “is overcoming the difficulties in relation to the supply of inputs”.

“The Industrial Indicators survey brought a positive result in general. In the case of employment and revenue, this is the third consecutive month of growth”, highlighted Larissa Nocko, Policy and Industry analyst at CNI.

Employment increased by 0.5% in July compared to June, while average income rose by 1%, as well as real revenue, and the salary mass of 1.3%. The indicators considered the
seasonal effects free series.

In comparison with July of last year, employment grew by 2.3%, while the real average income had a more robust increase of 5.0%, and the real wage bill increased by 7.3%. On the other hand, sales fell by -0.1%.

With the advance registered this month, the salary mass reached its highest point since March 2020. Income has already reached the highest point since January 2021.

“These two variables can be interpreted as evolving together. Revenues in the manufacturing industry also grew as a result of the recovery in purchasing power and the increase in employment as a whole”, said Larissa.

In terms of employment, the second semester starts with a similar breath to the first half of the year, according to CNI.

“The job market is very heated and has been recovering some losses that occurred during the pandemic. This recovery is ongoing, it has not yet been completed, but it has made good progress”, concluded the analyst.