The trade union closed its collective bargaining agreement and the base salary will exceed one million pesos.

Argentina's largest trade union , the Commerce Union, agreed with the business sector on the second-quarter salary increase , with a 5.4% increase.

The Argentine Federation of Commerce and Service Employees (FAECYS), together with the Argentine Chamber of Commerce (CAC), the Argentine Confederation of Small and Medium-Sized Enterprises (CAME), and the Union of Commercial Entities (UDECA), signed a new agreement for April, May, and June, within the framework of the 2024/2025 annual collective bargaining agreement.

With this new update, the base salary of retail workers with attendance will reach $1,123,000. The agreement establishes a cumulative salary increase of 5.4%, distributed in three monthly installments: 1.9% in April, 1.8% in May, and 1.7% in June.

Additionally, fixed amounts totaling $115,000 were agreed upon, to be paid in installments of $35,000, $40,000, and $40,000, respectively. The latter will be added to the base salary in July.

These increases are in addition to the previously agreed-upon increase for the first quarter of the year (January, February, and March), which consisted of a cumulative 5.1% increase, distributed in monthly increases of 1.7%.

In this regard, Armando Cavalier , Secretary General of FAECYS, stated: "Our goal is to maintain the purchasing power of wages in the face of persistent inflation. This agreement is part of our ongoing monitoring efforts to protect the income of working families."

He added: "We are closely monitoring the formal employment situation in the sector, as we are concerned about some signs of a slowdown."