A majority of Argentinian workers plan to switch jobs, pushed by their savings being eaten away by high inflation in the country.
A recent survey by human resources consultancy Randstad found that 57% of workers in Argentina are considering a job change over the next six months as the soaring cost of living gradually erodes their purchasing power.
Around 72% of Argentinian workers expressed concern about inflation. The survey shows that even those who are employed are finding it difficult to keep up with the rising cost of food, housing and other essential goods and services.
Another factor contributing to the high job turnover rate is the strong demand for technology workers. American and Spanish companies are offering remote working opportunities to local tech talent, which is tempting many Argentines to leave their current jobs.
According to the latest data from the Argentinian Statistical Institute, annual inflation is running at over 80%, the highest in decades.
In addition to the economic factors, there is also a cultural dimension to the phenomenon. Many Argentinian workers believe that the more they change their jobs, the higher their salary will be.
Some Argentinian workers are also looking for ways to supplement their income through side hustles or gig work in order to combat rising costs.
“The economic situation and the search for better conditions put pressure on labor mobility, encouraged by a demanding labor market,” Andrea Ávila, CEO of Randstad in Argentina, told a local news outlet.