March 25 (UPI) -- Formal employment losses are accelerating in Argentina, with the industrial sector emerging as the main source of concern, according to a report by Grupo Atenas research center.
The report estimates the sector has lost more than 100,000 jobs over the past two years, with an average of 32 companies closing each day across the country.
The total includes about 73,000 direct registered jobs in factories, along with more than 30,000 indirect positions linked to supply chains such as logistics, inputs and services.
"More than half of the country's districts have lost industrial jobs. This includes the Buenos Aires metropolitan area and productive regions in the interior. When a factory closes, it does not close alone. It pulls down suppliers, transporters and neighborhood businesses," economist Martín Pollera, one of the report's authors, told local newspaper Ámbito.
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