Vaca Muerta accounts for over 35% of Neuquén's registered private-sector wages
Oil and gas extraction represents 35.7% of Neuquén's registered private-sector wage bill, according to an analysis by IERAL of the Fundación Mediterránea. The data demonstrates Vaca Muerta's weight in the provincial economy and its distance from other productive activities.
The hydrocarbon sector concentrates 16% of registered private-sector workers, but its share of wage income far exceeds that proportion due to compensation levels in the industry. In nominal terms, it contributes approximately $2.678 billion to a private-sector wage bill in Neuquén of nearly $7.500 billion, calculated at March 2026 prices.
Between November 2023 and March 2026, Neuquén's real private-sector wage bill grew 9.9%, the largest increase among Patagonian provinces. In the same period, hydrocarbons increased 5.2% and added approximately $132 billion to wage income circulating in the province.
Development of unconventional activity also had spillover effects on related sectors. Transportation registered real wage bill expansion of 29%, followed by manufacturing, up 22%; hotels and restaurants, up 19%; commerce, up 18%; and real estate activities, up 14%. Construction, transportation, and commerce account for the largest wage bill shares after hydrocarbons, at 13%, 10%, and 10%, respectively.
The impact extended to Río Negro, where private-sector wage bill increased 5.8% in real terms, driven primarily by construction, which advanced 40%. Growth was associated with hydrocarbon transport infrastructure, pipelines, and logistics terminals designed to link production from the Neuquén Basin to the Atlantic coast.
The report also warns of risks from a concentrated economic structure. Dependence on a dominant complex exposes employment, consumption, and public finances to trends in international oil and natural gas prices, as well as drilling and completion investment rates. Meanwhile, energy-sector wages raise costs and complicate hiring in activities such as fruit cultivation and urban services.
Information from Mejor Energía.