Given the imminence of Mother’s Day, a private study sounded the economic situation of this segment of the population, which has a high impact on the economy. Among other characteristics, the survey showed that 57.6% of mothers (of the sample of families with employment) have a formal job, under the modalities of a dependency relationship or through an independent activity, such as self-employed or monotributistas. Their average monthly income is $ 17,000, almost half that of men, and they have debts of $ 46,000 pesos, on average, according to a recent Equifax analysis.
The main employment activities of this age group are related to the trade, sale and resale of merchandise (27.5%), followed by community, social and personal services that include beauty and body aesthetics among others (23.4%); and finally health and social services such as care for the elderly, minors, women with or without accommodation (10.2%).
Regarding the family profile of the mothers who considered the sample, in the cases where it was possible to establish relationships of mothers with children, 39% have one child, 35% have two children and 26% belong to a large family – with three children or more. In turn, 60% have children, 57% have adolescents, 9% have babies and 1% have older children.
On the other hand, as reflected in the analysis, the average income is $ 17,000, while Argentine parents earn an average income of $ 31,000. 86% receive income up to $ 27,300 and 10% between $ 27,301 and $ 49,300. 3.3% receive medium-high income between $ 49,301 and $ 93,800 and 0.6% earn more than $ 93,801.
Regarding the state of indebtedness, mothers have average debts of $ 46,000. Within the studied family groups, the greatest distribution of mothers occurs in generations X (40 to 55 years) representing 51% and Millennials (24 to 39 years) 43%. Baby Boomers (56 to 74 years) represent 5% and Centennials (18 to 23% years) 1%.
About financial profile, 64% have some credit product such as loans, cards or checking accounts. 46% of mothers are credit card holders and 29% have loans. Mothers seek credit in finance companies and retails 15% more than the total Argentine population.
The analysis used data from the Equifax Bureau combined with public information from the BCRA, ANSES and Obras Sociales, and segmented a universe of 1,253,853 Argentine mothers who work.
Erica Grimberg, Equifax Analytics Manager for Argentina, Paraguay and Uruguay pointed out that “the results of the analysis show that bankarization and the possibility of greater access to financial products continues to be an issue to be addressed in the mothers segment, taking into account account that they comply a central role in the workforce Argentina, “he said.