President Javier Milei's approval rating in Argentina fell to 36.4 percent in March 2026, marking its lowest level since he took office, as rising unemployment and corruption allegations erode public confidence in his libertarian economic program and working families bear the cost of stalled recovery.
This represents a five-point drop from February 2026, 2 months ago, while his disapproval rating climbed six percentage points to nearly 62 percent. The findings are from the LatAm Pulse survey, conducted by AtlasIntel for Bloomberg News, which polled 5,037 people in Argentina between March 20-24, 2026, approximately 1 week ago, with a 95 percent confidence level and a margin of error of plus or minus one percentage point.
Opposition Gains Ground
Milei, leader of La Libertad Avanza, also trailed behind Buenos Aires Province Governor Axel Kicillof in public image for the first time in March 2026, with Kicillof holding a positive image of 38 percent compared to Milei's 37 percent. Kicillof, a potential presidential candidate for the opposition Peronist party next year, saw his party win a provincial vote in September 2025, 7 months ago, which led to a market sell-off and spurred a US$20-billion currency swap line for Argentina from the Trump administration. Milei's party subsequently won the national midterm race in October 2025, 6 months ago, including in Buenos Aires Province.
The decline in Milei's approval rating is attributed to corruption allegations within his government, rising unemployment, and public dissatisfaction with a trade deal solidified in February 2026 with the Donald Trump administration. These factors reflect growing anxiety about the real-world consequences of Milei's economic policies on working people's livelihoods and economic security.
Labor Market Crisis
Unemployment in Argentina climbed to 7.5 percent at the end of 2025, 3 months ago, the highest fourth-quarter rate since the Covid-19 pandemic. Nearly three-quarters of survey respondents described the labor market as "bad," and 65 percent viewed the economy negatively—stark indicators of widespread economic distress among ordinary Argentines. Corruption was the top concern for Argentines, followed by unemployment and inflation, revealing public priorities centered on accountability and economic stability.
Monthly inflation, which Milei had aimed to keep below one percent this year, remained closer to three percent and has not cooled since June 2025, 10 months ago. While an improvement from the crisis Milei inherited, the economic recovery has lost momentum, leaving working families caught between persistent price increases and a deteriorating job market.
Trade Deal Backlash
The trade agreement with the U.S. saw its support drop to 41 percent in March 2026, down from nearly 60 percent in a January 2025 poll, 1 year and 3 months ago, when it was under negotiation. Argentines anticipate the pact will likely result in factory and small business closures—a reflection of legitimate concerns about how trade liberalization may eliminate domestic jobs and undermine local industries without adequate transition support or worker protections.
Corruption Concerns Mount
A cryptocurrency scandal from February 2025, 1 year and 2 months ago, resurfaced, and Cabinet Chief Manuel Adorni faced scrutiny two weeks ago, around March 12, 2026, approximately 3 weeks ago, regarding his wife's travel on the presidential plane and his use of a private jet for a family vacation. These revelations fuel perceptions of elite privilege and lack of accountability at the highest levels of government, undermining public trust.
Other regional leaders, including Brazil's Luiz Inácio Lula da Silva, Mexico's Claudia Sheinbaum, and Chile's new President José Antonio Kast, also experienced dips in their approval ratings. Kast is facing backlash over his decision to hike fuel prices. President Javier Milei delivered his annual speech to parliament on March 1, 2026, 1 month and 1 day ago.
Why This Matters:
Milei's declining approval reflects a fundamental disconnect between libertarian economic theory and the lived reality of working Argentines. With unemployment at 7.5 percent—the highest fourth-quarter rate since the pandemic—and three-quarters of respondents describing the labor market as "bad," the human cost of economic policy becomes undeniable. Persistent inflation near three percent, despite promises to bring it below one percent, compounds the squeeze on household budgets. The trade deal's plummeting support, from 60 percent to 41 percent, reveals widespread fear that liberalization will cost jobs and shutter small businesses without protecting workers or communities. Corruption scandals involving Cabinet officials using public resources for personal luxury further erode confidence in government accountability. As Kicillof and the Peronist opposition gain ground, the political landscape suggests Argentines are seeking alternatives that prioritize job creation, economic security, and institutional integrity over ideological purity. The trajectory indicates that without addressing unemployment, inflation, and corruption, Milei's political coalition faces growing challenges ahead of next year's presidential race.