- Population : 44M
- GDP : USD 584 billion
- GDP per head : USD 10,515
- Workforce : 11.5M
- Unemployment (2017) : 7.6%
- High skilled monthly income (2017) : USD 1064
- Government debt : 49% of GDP
- Personal income tax : 35%
- Corporation tax : 35%
- World corruption ranking 2016 : 95th Transparency International
- Ease of doing business ranking : 116th Business Freedom Index
- Labour law : ILO Conventions ratified
- Data protection : Recognised by EU as having adequate protection
The Labour Contract Law of 1976 remains the principle law relevant to private sector employment. Collective agreements then tailor the law to specific circumstances, sectors and employers.
Labour law changes are expected in 2017 but often these will be implemented with little notice and without the details being available in advance.
Global employers should be aware that workplace practices established over time can become legally binding on an employer. Argentinian law operates the principle of “no waiver” by which any agreement on the part of an employee to waive his or her rights under law, collective agreement or contract will be void. By contrast, the employer is entitled to make unilateral changes to employment contract terms provided the change is reasonable for operational purposes, does not change the core terms of the contract and does not put the employee in a worse moral or financial position.
Argentinian law requires the payment of a statutory bonus (“13th month” or “Aguinaldo”) in both June and December equal to 50% of the highest monthly salary paid in the previous six months.
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ARGENTINA: Annual Update – Expected labour law changes in 2016