Argentina's labor map has once again shown a sharp territorial divide. Between the third quarter of 2023 and the same period in 2025, registered private employment fell 2.7% nationwide, but Neuquén remained among the three jurisdictions that managed to escape that trend, together with Río Negro and Tucumán.
In Neuquén's case, the central explanation is tied to the weight of Vaca Muerta. The unconventional development sustains direct activity in hydrocarbons, but it also drives services, transport, commerce, private construction and specialized suppliers that depend on the investment pace of the basin.
The IERAL report, prepared within Fundación Mediterránea, describes an economy under adjustment with highly focused opportunities. The improvement does not come from a broad expansion of the labor market, but from specific sectors with comparative advantages, export capacity or production chains able to pull formal employment.
Neuquén appears as the clearest example of that phenomenon. Unlike other oil-producing provinces where conventional extraction has lost momentum, the province retains an expansion cycle linked to shale, with investment, operations and services that broaden demand for private labor.
Río Negro also remained within the group of jurisdictions with positive results, although with a more moderate and diverse composition. Its performance combines industrial activity, services, construction and expectations tied to energy and infrastructure projects, with a smaller labor impact than the one recorded in Neuquén.
The contrast with most of the country reinforces a warning: growth in a dynamic activity does not automatically spill over to the entire economy. For that impulse to reach more sectors, local suppliers, infrastructure, labor training and financing conditions are needed to broaden the productive base.
Construction was identified as one of the sectors most affected by the adjustment, especially in provinces dependent on public works and national transfers. In that context, Vaca Muerta does not erase the general weakness of private employment, but it does explain why Neuquén appears as an exception within a national labor market in retreat.
