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David José Jaume

Bank of Mexico, Mexico

I have studied Argentina’s labor market for many years, and I was excited by the opportunity to bring together what we have learned from two decades of profound economic change. I hope the article helps readers understand both the progress Argentina has made and the persistent challenge of creating productive, formal, and well-protected jobs.

World of Labour role

Author

Current position

Financial Specialist, Manager level; Directorate of Macrofinancial Risk, Financial Stability Department.

Research interest

Labour economics, development economics, financial inclusion

Website

www.davidjaume.com

Past positions

Financial Specialist, Deputy manager level; Directorate of Macrofinancial Risk, Financial Stability Department; Office Manager; Directorate of Macrofinancial Risk, Financial Stability Department; Research Economist; Directorate of Macrofinancial Risk, Financial Stability Department.

Qualifications

Ph.D. in Economics, Cornell University, 2018.

Selected publications

  • "The long-run effects of teacher strikes: evidence from Argentina." Journal of Labor Economics 37:4 (2019): 1097-1139 (with A. Willén).

  • "Occupational exposure to capital-embodied technical change." American Economic Review 113:6 (2023): 1642-1685 (with J. Caunedo, and E. Keller).

  • Growth, employment, and poverty in Latin America. Oxford University Press, 2017 (with G. Cruces et al).

  • "Do credit supply shocks affect employment in middle-income countries?." American Economic Journal: Economic Policy 15:4 (2023): 1-36 (with E. Gutierrez and M. Tobal).

  • "The labor market effects of an educational expansion." Journal of Development Economics 149 (2021): 102619.

Article(s)

  • The labour market in Argentina, 2003-2025

    Argentina’s labour market shows low unemployment but worsening job quality, informality, wages, and human capital

    David José JaumeLuis A. LaguingeLucía Ramírez Leira, October 2026
    Argentina’s labour market experienced two sharply contrasting periods. The first, between 2003 and 2012, was characterized by falling unemployment, rising real wages, declining inequality, and improvements in formal employment. The second was marked by prolonged macroeconomic instability, stagnant productivity, and deteriorating labour market conditions. Despite relatively low unemployment rates, real wages collapsed, informality remained persistently high, and a growing share of workers became poor despite being employed. At the same time, human capital accumulation among younger cohorts has weakened significantly. Argentina's labour market challenge is no longer primarily one of unemployment but of job quality.
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