The UOM activates new salary increases after knowing the October inflation

After October inflation is known, metal workers will have an additional increase to what has already been established by the Metallurgical Workers Union (UOM) and the business chambers last July.

The union and the businessmen incorporated a clause into the joint agreement by which the percentage provisionally set for the last quarter of the year (21%) would be adjusted with the official values ​​of the Consumer Price Index (CPI).

Namely: The UOM agreed to a 7% increase for October, with the commitment to review the number once the inflation rate is known, which for that month was 8.3%. Therefore, metallurgists will perceive the percentage difference, in this case, 1.3%.

The same methodology will be used for November and December, and it remains to be seen what will happen with the last quarter of the joint period (January-March).

At the parity 2023-2024 from UOM

Last July, the union led by Abel Furlán closed a salary agreement valid until next December. It established a recovery of the percentage lost in the first section of the parity (April-June) through a Total cumulative six-month increase of 69.4%.

In addition, it agreed to pay the $60,000 bonus in two tranches (August and September) and the provisional increase of 21% for the last quarter of the year (7% October, 7% November and 7% December), which will now begin to be adjusted.

Agreed increases

  • 20% in July (with recovery from the previous quarter)
  • 9% in August
  • 9% in September
  • 7% in October (with subsequent readjustment)
  • 7% in November (with subsequent readjustment)
  • 7% in December (with subsequent readjustment)

The only detail of the joint venture disrupted the initial plans of the UOM The official inflation for August and September was above 12%, when the REM estimate used at the time of signing the joint agreement was 7.5% and 7.8% for that two-month period. It remains to be seen what strategy the union can use, if necessary, to reverse the loss of those months.

For now, the basic salaries of the activity will be updated once the inflation data for October is known. It is expected that in the next few hours, the union and the companies will publish the new scales with greater certainty regarding the new salaries in the sector.

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