Milei’s Labor Reform Runs Up Against Reality of Struggling Steel Towns (Bloomberg)

[MikeYoung]

Milei’s Labor Reform Runs Up Against Reality of Struggling Steel Towns​

Javier Milei promises his overhaul of labor laws will bring jobs back to Argentina. But its factory towns are bracing for another round of pain.

https://www.bloomberg.com/news/features/2026-02-19/milei-s-labor-reform-risks-more-pain-for-struggling-factory-towns

 

[MikeYoung]

No paywall here

 

[Piranha]

I read that article this morning. I like most of Milei's changes but I don't think that in 2 years people's patience will last that long. The increases to utility rates is at a breaking point from what I can see talking to locals. I also can't see what sector is going to employ all of these manufacturing sector losses. I doubt all of these people losing jobs will be voting for Milei in the next election unless they have found jobs.

 

[I Love Mate]

I read that article this morning. I like most of Milei's changes but I don't think that in 2 years people's patience will last that long. The increases to utility rates is at a breaking point from what I can see talking to locals. I also can't see what sector is going to employ all of these manufacturing sector losses. I doubt all of these people losing jobs will be voting for Milei in the next election unless they have found jobs.

Argentine companies have the same number of salaried, payroll jobs that they did a decade ago, even as the overall population is up by three million in that time. Argentina has the highest tax burden for employers of major Latin American economies — triple Chile’s rate and more than double Mexico’s, according to data compiled by JPMorgan Chase & Co.

💀💀💀💀💀☠️☠️

 

[ElQueso]

Argentine companies have the same number of salaried, payroll jobs that they did a decade ago, even as the overall population is up by three million in that time. Argentina has the highest tax burden for employers of major Latin American economies — triple Chile’s rate and more than double Mexico’s, according to data compiled by JPMorgan Chase & Co.

💀💀💀💀💀☠️☠️

Reminds me of all of these robots that will take over everyone's jobs. There won't be enough jobs to go around and I don't believe that the government will be helping all of those unemployed.

 

[Cardiac Arrest]

Reminds me of all of these robots that will take over everyone's jobs. There won't be enough jobs to go around and I don't believe that the government will be helping all of those unemployed.

Yeah I don't buy at all these universal basic incomes that Musk and others are saying we will have. Forgive me but I don't believe the government is going to take care of all of these people.

 

[earlyretirement]

Reminds me of all of these robots that will take over everyone's jobs. There won't be enough jobs to go around and I don't believe that the government will be helping all of those unemployed.

I think we are already feeling the effects of AI and technology. There are a TON of jobs that will simply vanish. It's remarkable the things that you typically thought were safe like computer engineering but not as many of them will be needed with AI. I was at a birthday party for one of my friends a few weeks ago. I live in an affluent community where home sizes are larger. My daughter is going off to University this fall and I knew that many of my friends that had kids that already graduated college last year.

I was completely shocked to hear from several parents where their kids graduated last year and they are all living with them as they moved back from college. Some were totally unemployed and a few had jobs where you wouldn't even need a high school degree. It was interesting to see some of the majors they studied. One studied computer engineering, a few marketing, one some special school for visual animation making movies, a few Psychology majors. Tons and tons of jobs are not going to be needed.

Obviously there will always be a need for humans but I believe the way we do business is going to change and is already. Robots, AI and technology are going to outplace a ton of jobs. It's going to be important heading into the future to think about what you will study and what role you will place in the future.

I wouldn't depend on the government or anyone else to take care of you and inflation will continue to be a factor. There is going to be a greater divide between the haves and have nots.

 

[Uncle Wong]

I think we are already feeling the effects of AI and technology. There are a TON of jobs that will simply vanish. It's remarkable the things that you typically thought were safe like computer engineering but not as many of them will be needed with AI. I was at a birthday party for one of my friends a few weeks ago. I live in an affluent community where home sizes are larger. My daughter is going off to University this fall and I knew that many of my friends that had kids that already graduated college last year.

I was completely shocked to hear from several parents where their kids graduated last year and they are all living with them as they moved back from college. Some were totally unemployed and a few had jobs where you wouldn't even need a high school degree. It was interesting to see some of the majors they studied. One studied computer engineering, a few marketing, one some special school for visual animation making movies, a few Psychology majors. Tons and tons of jobs are not going to be needed.

Obviously there will always be a need for humans but I believe the way we do business is going to change and is already. Robots, AI and technology are going to outplace a ton of jobs. It's going to be important heading into the future to think about what you will study and what role you will place in the future.

I wouldn't depend on the government or anyone else to take care of you and inflation will continue to be a factor. There is going to be a greater divide between the haves and have nots.

I agree that the universal living wage will probably never happen. I see quotes like this from Elon and laugh. I doubt AI and robots are going to make everyone wealthy.

This sounds like a utopian fantasy. In theory communism would be a dream and provide equality and be great for everyone but in practice it doesn't work. Always creates an accumulation of power and resources for a few.



It sounds