According to official data, Argentina has experienced a loss of nearly 22,000 companies in the initial two years of President Javier Milei’s administration. Data indicate that the count of registered employers in Argentina decreased from 512,357 in November 2023 to 490,419 in November 2025, reflecting a net reduction of 21,938 companies over a span of 24 months. During the same timeframe, the count of registered workers declined from 9,857,173 to 9,566,571, reflecting a reduction of 290,602 jobs.
The contraction persisted into 2025. In the month of November, the economy experienced a net decline of 892 companies. Throughout the initial 11 months of the year, the system documented a total net decrease of 9,722 employers. The most significant decline took place in the first half of 2024, subsequent to the pronounced devaluation of the peso and the President’s extensive public expenditure reductions – referred to as the “chainsaw” plan – which adversely affected the construction sector in particular.
From the conclusion of 2023 through the middle of 2024, there was a consistent decrease in the number of registered firms, after which the rate of decline began to moderate. By December 2024, the total stood at 499,682 companies. Construction emerged as one of the sectors most impacted, illustrating the halt in public works and the wider deceleration in activity instigated by the government’s fiscal adjustment programme. The latest working report from the Superintendency indicates a significant level of business mortality among newer firms.
Between the third quarter of 2024 and the second quarter of 2025, 34 percent of all company closures involved businesses less than three years old, indicating that a considerable proportion of new market entrants struggle to endure beyond a brief life cycle. The data highlights the magnitude of the economic adjustment in progress, as the government emphasizes fiscal balance, even as private sector activity continues to face challenges.