The union reopened its joint and obtained an additional 20% increase in three installments

The union closed today. salary increase of 20% divided into 3 installments: 7% in January, 7% in February and 6% in March. The total increase is based on the salary of March 2018.

The increase is considered a "supplemental increase" and is distinct from the payment of a year – end bonus that companies pay. The agreement reached today also indicates that the payment of the premium will be badessed differently in the case of SMEs., depending on the financial situation of each small and medium business.

In addition, at the request of the Argentine Confederation of Medium Enterprises, a special clause has been established for the case of the companies of Tierra del Fuego for the payment of the additional increase.

The closing of the reopening of paritaria mercantile is one of the largest in the private sector, affecting approximately 1.2 million employees in dependency relationship. As a result, this has an impact on establishing a general reference for other private sector paritarias.

In March, the initial parity had been closed with a 15% increase for the year and a revision clause in January 2019, which ended before November. The application of review clauses was a recurrent theme in the great majority of paritarias at the beginning of the year, when the agreed increases were around 15%.

Then, the parities were negotiated taking into account the inflation target set by the Central Bank, which few people considered realistic.. Since then, inflationary projections have surged in recent months. In the latest Central Bank survey, the average of the consultants predicted that inflation would end the year at 47.5%.