Wages index down by 1.9 pct in Q1, records back-to-back annual drops

EconomyMacroeconomy Tags: ELSTAT, Income
Photo by Gerasimos Domenikos/Fosphotos
Photo by Gerasimos Domenikos/Fosphotos

Greece’s seasonally adjusted (SA) Wages Index stayed in negative territory in the first quarter of 2022, dropping by 1.9 percent year-on-year (YoY), after a revised drop of 1.5 percent in the last quarter of 2021, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.

The wages index captures employees’ gross earnings, including salaries, bonuses, extraordinary payments (Christmas and Easter bonuses as well as annual leave) and payments for non-working days (holidays, national holidays and maternity leave).

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