Live Updates > Live Update Details
2025-12-12 13:38:01
[Argentine Government Submits Labor Reform Bill Aiming to Reduce Business Costs and Increase Employment Flexibility] 1. Argentine President Milley's office announced on Thursday that it has submitted a bill to Congress aimed at promoting labor market reforms. The proposal aims to address bureaucracy and structural rigidity to boost formal employment growth. This reform proposal comes as Argentina's new Congress is about to convene a special legislative session, during which Milley plans to push forward a series of reforms considered key to boosting the economy. His party gained more seats in Congress after the October midterm elections, creating more favorable conditions for reform legislation. 2. The bill has sparked strong opposition from labor unions. Argentina's largest labor union federation, the General Confederation of Labor (CCL), has announced a protest march in downtown Buenos Aires next Thursday. However, the bill has received support from the Argentine Industrial Confederation, whose president stated that industries are facing fierce competition from cheaper imports and hopes the reforms will gradually reverse the unemployment trend and create more formal jobs for Argentina.
